Baytex Energy Corp T.BTE

If E&D for 2025 is guided to be ........

[HeavyBanana]

......... significantly less than 2024's budget because the the learning curve has been sorted out through 2024 ....... doesn't that get a sizeable re-rate to happen in and of itself?

[dllscwbysfn]

That would we nice, however I find it hard to imagine that they can keep production up and lower their costs. Afterall we have these great wells in Clearwater that are only helping to keep production flat. But a surprise to the upside for a change would really help, its just hard to fathom considering the last 4 or 5 quarterly results have truly disappointed.

[HeavyBanana]

They did reduce costs considerably as reported last quarter, it was 8% if memory serves me well. More tightening of costs certainly impacts budget planning for 2025.

[dllscwbysfn]

From Q1 Report   Exploration and development expenditures of $412.6 million for Q1/2024 were consistent with expectation. Our annual guidance of $1.2 - $1.3 billion reflects moderated activity levels over the remainder of 2024. From Q2 Report   Exploration and development expenditures of $752.1 million for YTD 2024 were consistent with expectations. Our annual guidance of $1.2

[dllscwbysfn]

I would be ok with them spending 300M in Q3 on E and D if production goes up be another 3500boe/day. But if we are spending 1.3 B/year to keep production flat then I think we have a big problem

[JohnnyDoe]

So I think the 2025 guidance is critical  CDN ops are hitting it out of the park. They've had 5 quarters of learning in the EF. Maybe they've learned how to increase EF production and get us into the 160s /d. But if what they've learned is they need to spend 1.2-1.3 to keep things flat, this company is screwed. Actually let me rephrase that. We stockholders are screwed. There'

[dllscwbysfn]

No. 2025 guidance does not matter. Their guidance has been wrong. I need to see results!!

[JohnnyDoe]

  Oh I'm 100% with you on guidance being off.... I guess I'm saying if they aren't guiding notably higher production, then they're settling in at needing 1.2-1.3 capex to main production in the mid 150s and that's not good 

[Kelvin]

Well as I write this wcs is at $58.89 and dropping yet bte sp is moving up. I'm waiting on the financials to see how they're doing in EF. I know that the Canadian operations are solid.

[ztransforms173]

- they are SHOOTING for an 8% REDUCTION in WELL COSTS WITHOUT FACTORING IN SERVICE COST INFLATION which RAN from 10 to 15% in the LAST TWO YEARS  - so an 'expecting' an ACTUAL NOMINALLY LOWER CAPITAL BUDGET in 2025 is FOOLHARDY - WITHOUT a ROBUST and WELL-CONCEIVED CAPITAL BUDGET, BTE PRODUCTION will NOSEDIVE GIVEN the HIGH WEIGHTING of the SHALE/HIGH-DECLINE Eagle Ford BASIN to the