Vladimirovic Baytex Energy (NYSE:BTE) made a major acquisition which is now completed. But really, for management, the work has just begun. That acquisition needs to be justified in the eyes of shareholders, either by earnings or by superior operational measures. Management's task is made harder by the fact that oil prices have kind of weakened a little since the merger completed. Touting operational improvements is not nearly as easy for management to do as showing better earnings, even if those earnin ...

Baytex Energy Corp. (NYSE:BTE) Q1 2023 Results Conference Call May 5, 2023 9:00 AM ET Chad Kalmakoff - Chief Financial Officer Menno Hulshof - TD Securities Brian Ector Eric Greager On April 12, we announced a proposed USD 750 million private offering of senior unsecured notes due 2030. We subsequently upsized the offering to USD 800 million on strong demand. Closing occurred on April 27 and the notes bear interest at a rate of 8.5% per annum. This was a key part of our financing strategy for the Ranger acq ...

Eric Greager - President & Chief Executive Officer Menno Hulshof - TD Securities While listening, please keep in mind that some of our remarks will contain forward-looking statements within the meaning of applicable securities laws. I refer you to the advisories regarding forward-looking statements, oil and gas information, and non-GAAP financial and capital management measures in yesterday's press release. Our objective is to deliver modest, reliable annual production growth, while generating meaningful fr ...

Baytex Energy Corporation (BTEGF) Q3 2022 Earnings Conference Call November 4, 2022 11:00 AM ET Company Participants Brian Ector - VP, Capital Markets Edward LaFehr - President, CEO & Director Rodney Gray - EVP & CFO Eric Greager - Incoming President & CEO Chad Lundberg - Chief Operating & Sustainability Officer Conference Call Participants Patrick O'Rourke - ATB Capital Markets Menno Hulshof - TD Securities Dennis Fong - CIBC Operator Thank you for standing by. This is the conference operator. Welcome to t ...

fi ENERGY CORP. August 2022 TSX BTE Advisory In this presentation, we refer to certain specified financial and capital management measures which do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS"). While these measures are commonly used in the oil and natural gas industry, our determination of these measures may not be comparable with calculations of similar measures presented by other reporting issuers. This presentation also contains oil and gas disclosu ...

Financial Data and Key Metrics Changes - In Q2 2022, the company reported production of over 83,000 barrels of oil equivalent per day (boes/d), with record quarterly free cash flow of CAD 245 million and a 12% reduction in net debt to CAD 1.1 billion [5][20] - The company anticipates generating approximately CAD 700 million or CAD 1.25 per basic share of free cash flow for the year [7] - The net debt is expected to reach CAD 800 million by late 2022 or early 2023, with a long-term target of CAD 400 million [9][21] Business Line Data and Key Metrics Changes - Clearwater production averaged 7,300 barrels per day in Q2, up from 3,200 barrels per day in Q1, with production in June averaging 9,100 barrels per day [11] - The company has de-risked 50 sections of land in the Clearwater area, with the potential for over 200 drilling locations [13][16] Market Data and Key Metrics Changes - The company continues to experience inflationary pressures, particularly in the Eagle Ford region, leading to an expectation of capital expenditures toward the high end of the guidance range [6] - The company has a strong liquidity position with CAD 582 million of undrawn capacity on credit facilities [21] Company Strategy and Development Direction - The company remains focused on capital discipline, generating free cash flow, and reducing debt, with unchanged production guidance of 83,000 to 85,000 boes/d for 2022 [5][6] - The first phase of an enhanced shareholder return framework has been implemented, allocating 25% of annual free cash flow to a share buyback program [7][8] - The company plans to increase direct shareholder returns to 50% of free cash flow upon achieving a net debt level of CAD 800 million [8] Management's Comments on Operating Environment and Future Outlook - Management acknowledges inflationary pressures but emphasizes a focus on capital discipline and maximizing free cash flow [6] - The company is well-positioned for future growth, with a strong outlook for 2022 and plans to maintain operational momentum [22][24] Other Important Information - The company published its 2021 ESG report and inaugural TCFD report, highlighting its commitment to reducing environmental impacts and promoting safety [22][23] - The CEO announced plans to retire in January 2023, with a succession committee established to facilitate the transition [24] Q&A Session Summary Question: With Ed retiring, should the company consider reviewing alternatives, such as selling Eagle Ford? - Management stated that there are no plans for significant asset sales and that the focus remains on organic development [30] Question: Are there plans to renew the U.S. major exchange listing? - Management confirmed there are no current plans to regain the NYSE listing, as the company is seeing good liquidity on the TSX and other Canadian exchanges [32]

Baytex Energy Corp (BTEGF) Q1 2022 Earnings Conference Call April 29, 2022 11:00 AM ET Company Participants Brian Ector - VP, Capital Markets Edward LaFehr - President, CEO & Director Rodney Gray - EVP & CFO Conference Call Participants Patrick O'Rourke - ATB Capital Markets Eric Nuttall - Ninepoint Partners Joshua Young - Bison Interests Jeremy McCrea - Raymond James Operator Thank you for standing by. This is the conference operator. Welcome to the Baytex Energy Corp. First Quarter 2022 Financial and Oper ...

Baytex Energy Corp. (BTEGF) Q4 2021 Earnings Conference Call February 25, 2022 11:00 AM ET Company Participants Brian Ector - Vice President, Capital Markets Edward LaFehr - President and Chief Executive Officer Rodney Gray - Chief Financial Officer Conference Call Participants Dennis Fong - CIBC World Markets, Inc. Operator Thank you for standing by. This is the conference operator. Welcome to the Baytex Energy Corp. Fourth Quarter and Full Year 2021 Financial and Operating Results Call. As a reminder, all ...

Baytex Energy Corp. (BTEGF) Q3 2021 Earnings Conference Call November 5, 2021 11:00 AM ET Company Participants Brian Ector - Vice President, Capital Markets Ed LaFehr - President & Chief Executive Officer Rod Gray - Executive Vice President and Chief Financial Officer Chad Lundberg - Chief Operating and Sustainability Officer Conference Call Participants Phil Skolnick - Eight Capital Patrick O'Rourke - ATB Capital Markets Jeremy McCrea - Raymond James Josh Young - Bison Operator Thank you for standing by. T ...

Baytex Energy Corp. (BTEGF) Q2 2021 Earnings Conference Call July 29, 2021 11:00 AM ET Company Participants Brian Ector - Vice President, Capital Markets Ed LaFehr - President and Chief Executive Officer Rod Gray - Executive Vice President and Chief Financial Officer Chad Lundberg - Chief Operating and Sustainability Officer Kendall Arthur - Vice President of Heavy Oil Chad Kalmakoff - Vice President, Finance Scott Lovett - Vice President of Corporate Development Conference Call Participants Manav Gupta - C ...