Baytex Energy Corp T.BTE

FCF 4TH QUARTER - ??

[Trader60]

Based on BTE stating today that FCF for 2024 will be $570M at WTI $69, and that FCF has been $401M so far, FCF according to BTE for Q4 will be $169M if WTI holds. What a disappointment. 

GLTA

[1234bmth]

What is the disappointment part here? BTE can't control the oil price, and oil price affects all the companies in the sector, what is important is how management performs within the industry, honestly in the past few quarters since Ranger oil acquisition BTE had performed poorly compared to its peers, but Q3 results are good enough, just hope they keep the momentum as it is now.

[Trader60]

The CEO stated boldly and definitely that due to the forward strip, FCF would be $700M for 2024. Take a close look at previous Qs to refresh your memory and the definition of forward strip - he should never have made that statement.  GLTA

[JohnnyDoe]

They've averaged 77 wti thru 9 months. Getting 69 in Q4 is an average of 75. They've delivered 570 fcf at 75 wti.  They delivered a decent quarter and hopefully the mark responds positively  But something is clearly not right. They projected 1B fcf at 75 when they did the Ranger deal. They're delivering 57% of that.  And with the debt level, it's 3.5 years to move

[AvInvestor]

That is why they should sell heavy oil assets and move on! Concentrate the business on light oil, which investors want to see! 

[ManitobaCanuck]

Look at heavy oil capex  and returns at $70 oil . It performs better than EF shale .Royalty rates are higher in EF.Peavine is a pot of gold , great wells which pay off for themselves in months. They have a good mix and have flexibility to deploy capital based on demand for light or heavy oil. All their assets are performing well. Why sell something when it's generating positive cash

[AvInvestor]

How??? That's $570M of FCF, 19% free cash yield! What else do you want!