Core Viewpoint - Baytex Energy Corp. has announced its 2025 budget, focusing on disciplined capital allocation to prioritize free cash flow while maintaining a strong balance sheet in a moderated growth environment [3][4][10]. Financial Overview - The approved budget for 2025 exploration and development expenditures is set between $1.2 billion and $1.3 billion, targeting average annual production of 150,000 to 154,000 boe/d based on a WTI price of US$65/bbl [4][11]. - The company expects to exit 2024 producing between 152,000 and 153,000 boe/d, with a first-quarter production forecast of 147,000 to 149,000 boe/d [12]. Production and Operations - Operated production is projected to increase by 1% in 2025, with approximately 85% of total corporate volumes coming from operated assets [5]. - The capital program will allocate 55% to 60% of expenditures to Eagle Ford light oil assets in the U.S. and 40% to 45% to Canadian assets, with a balanced split between light and heavy oil in Canada [6][9]. Development Plans - In the Eagle Ford, 54 net wells are expected to come online, including 41 net operated wells, while Canadian operations will see nine net wells in Pembina Duvernay and 90 in Viking [7]. - The company plans to run a consistent two rig and one frac crew program throughout most of the year, targeting a 7% improvement in drilling and completion costs per completed lateral foot compared to 2024 [8]. Financial Guidance - Operating expenses are largely unchanged from 2024, with guidance based on an exchange rate of 1.40 CAD/USD [15]. - A $0.05 CAD/USD change in the exchange rate impacts operating expenses by $0.21/boe and total debt by $70 million [16]. Five-Year Outlook - The five-year outlook anticipates maintaining annual exploration and development expenditures at $1.2 to $1.3 billion, generating cumulative free cash flow of $3.1 billion and a total return of capital of approximately $1.7 billion [20][21]. - Sensitivity analysis indicates that at a constant US$65/bbl WTI price, free cash flow is expected to be $1.5 billion, increasing to $4.5 billion at US$85/bbl [23].

Group 1 - The Daily Drilling Report is an investment group focused on providing analysis for the oil and gas industry, featuring a model portfolio that encompasses all segments of upstream oilfield activity with weekly updates [1] - The group offers investment ideas for both U.S. and international energy companies, covering a range from shale to deepwater drillers [1] - Technical analysis is utilized to identify catalysts within the oil and gas sector [1] Group 2 - Fluidsdoc is an international oil industry veteran with 40 years of experience, having worked across six continents and over twenty countries, specializing in the upstream oilpatch [2]

I analyze oil and gas companies like Baytex Energy and related companies in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up her ...

The Zacks Oil and Gas - Exploration and Production - Canadian industry faces mixed dynamics. Weaker Chinese consumption, a critical factor in global oil pricing, has prompted OPEC+ production cuts. If China's demand remains subdued, oversupply could further pressure prices. Additionally, the rise of renewables and EVs presents long-term challenges, with technology advancements steadily reducing fossil fuel dependence. Yet, Canada’s energy infrastructure received a boost from the Trans Mountain Pipeline Expa ...

Baytex Energy Corp. (NYSE:BTE) Q3 2024 Earnings Conference Call November 1, 2024 11:00 AM ET Company Participants Brian Ector - Senior Vice President, Capital Markets and Investor Relations Eric Greager - President and Chief Executive Officer Chad Kalmakoff - Chief Financial Officer Chad Lundberg - Chief Operating Officer Conference Call Participants Justin Ho - RBC Capital Markets Amir Arif - ATB Capital Operator Good day, everyone. Thank you for standing by. This is the conference operator. Welcome to the ...

Baytex Energy (BTE) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.43%. A quarter ago, it was expected that this oil and natural gas company would post earnings of $0.12 per share when it actually produced earnings of $0.09, delivering a surprise of -25%.Over the last four quarter ...

Baytex Energy Corp. Q3 2024 MD&A 1 Exhibit 99.2 BAYTEX ENERGY CORP. Management's Discussion and Analysis For the three and nine months ended September 30, 2024 and 2023 Dated October 31, 2024 The following is management's discussion and analysis ("MD&A") of the operating and financial results of Baytex Energy Corp. for the three and nine months ended September 30, 2024. This information is provided as of October 31, 2024. In this MD&A, references to "Baytex", the "Company", "we", "us" and "our" and similar ...

Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") reports its operating and financial results for the three and nine months ended September 30, 2024 (all amounts are in Canadian dollars unless otherwise noted)."During the third quarter we generated $220 million of free cash flow, returned $101 million to shareholders through our share buyback program and quarterly dividend, and reduced net debt by 5%. Over the last fifteen months we have repurchas ...

Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "company") announces that its Board of Directors has declared a quarterly cash dividend of CDN$0.0225 per share to be paid on January 2, 2025 for shareholders of record on December 13, 2024.The U.S. dollar equivalent amount is approximately US$0.0163 per share assuming a foreign exchange rate of 1.38 CAD/US. Payments to shareholders who are not residents of Canada will be net of any Canadian ...

Baytex Conference Call and Webcast on Third Quarter 2024 Results to Be Held on November 1, 2024October 24, 2024 5:00 PM EDT | Source: Baytex Energy Corp.Calgary, Alberta--(Newsfile Corp. - October 24, 2024) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) will release its third quarter 2024 financial and operating results after the close of markets on Thursday October 31, 2024. A conference call and webcast will be held on Friday November 1, 2024 to discuss the results:Date: Friday November 1, 202 ...