Baytex Energy Corp T.BTE

Baytex answer me about my question on selling assets

[Marty47]

Hi - this is a fair question. We like the portfolio we have currently. I think the most important thing we can do is execute our plans for 2024, deliver on the free cash flow and meet our production guidance of 150,000 to 156,000 boe/d with capital expenditures of ~ $1.25 billion. Production in Q1 was 150,600 boe/d. We expect production to increase modestly for the remaining 3 quarters as we target the mid-point of guidance.  We stepped up the buyback program in May and again in June – currently at a pace of $1.4 million per day. Yes, there has been some frustration with the share price performance - it feels like we are in show-me mode with the market with respect to our operations and free cash flow profile. Having said that, if we could realize value through non-core asset sales and reduce our absolute debt levels, I think it’s something we would consider. There is nothing planned at this time though.

[Kelvin]

That's actually a positive response because it implies that they have no wells that are depleted enough to consider selling. There's a huge market for depleted wells all over. My friend in Alberta, retired drilling engineer, formed a company with 2 other people who have bought up some old wells somewhere near Houston. He sent me the results of dissolution tests done by a Houston lab on

[uwebb429]

If the assets you would like to sell are generating more cash than the debt is costing BTE, it would make no sense to sell those assets. Why sell assets that are profitable into a soft market if those assets are not going to be fairly valued? Consumer debt is almost always a bad thing, especially when it is used to buy depreciating assets like cars and trucks. There is nothing wrong with the

[Marty47]

Always nice to see what management answers .... at least we got some outputs and thinking from management 

[Ztransformer]

Thank u Marty, z172 really appreciates this.