Post by
Frost19 on May 19, 2024 3:20pm
Share buybacks
Almost 5M shares or 0.6% of total shares outstanding bought back in April alone.
With 821M shares outstanding on March 31, it's almost a given Baytex will be under 800M at some point this summer.
At the same time, they will reduce debt and grow production YoY going forward.
I know Q1 was disapointing for some in that benchmark pricing is at least 10% lower than Q2 and more impactfully they front loaded capex for the year into Q1.
I belive it was the correct move by management. Growing production at a faster pace and allowing them to buyback shares at a lower price. In the longterm it's a great setup.
Comment by
MLEWICKIMBA on May 19, 2024 4:24pm
799m by August 31 is very reasonable
Comment by
dandu1924 on May 19, 2024 7:55pm
In the longterm, like what 7 to 10 years. WOW. and if the oil price is over $80 because right now this is the disaster.
Comment by
raven16 on May 19, 2024 8:58pm
Dandy,What's Up With Your Negative diatribe All The Time With BTE,apparently Management Keeps Buying At These Discounted Prices And Disagrees With Your Negative Narrative,So That Brings Up The Question,Why Are You Even Here?Your Constantly Complaining About BTE,I Would Be Happy If You Sold And Weren't Here Any More.