Baytex Energy Corp. is a dividend-paying conventional oil and gas corporation based in Calgary, Alberta. The company is engaged in the acquisition, development and production of oil and natural gas in the Western Canadian Sedimentary Basin and has an emerging presence in the United States. Baytex is committed to maintaining its production and asset base through internal property development and delivering consistent returns to its shareholders. Baytex's common shares are traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
|As of April 28, 2014||YTD High Price||YTD Low Price||AVG Daily Volume*|
|TSX: BTE (C$)||46.72||38.80||1,105,900|
|NYSE: BTE (US$)||42.39||35.30||168,300|
|April 29, 2014||Q1 2014||Dec. 31, 2013|
|Enterprise Value (C$, billion) (1)||$6.6|
|Monthly Dividend (C$/share)||$0.22|
|Payout Ratio (net of DRIP)||37%|
|Production Volume (boe/d)||59,502|
|P+P Reserves (MMboe)||318|
|Reserve Life Index (P+P, years)(2)||14.9|
(1) Calculated based on closing price of Baytex shares of C$45.29 on the TSX composite on April 28, 2014, and shares outstanding as of March 31, 2014.
(2) Based on 2013 Year-End Reserves and Q4 2013 production.
|Q1 2014||Q1 2013|
|Production (before royalties)|
|Light Oil & NGL (bbl/d)||7,457||7,920|
|Heavy Oil (bbl/d)||45,232||37,486|
|Total Oil and NGL (bbl/d)||52,689||45,406|
|Natural Gas (mcf/d)||40,886||39,305|
|Oil Equivalent (boe/d)||59,502||51,957|
|Wells Drilled (gross/net)||153/119.1||125/110.0|
|Success Rate % (gross/net)||99/98||99/99|
|(C$ thousand, except per share amounts)||Q1 2014||Q1 2013|
|Petroleum & Natural Gas Sales||385,809||272,945|
|Funds from operations||170,810||101,772|
|Per Share (basic)||1.36||0.83|
|Cash dividends declared||63,441||56,449|
|Common Shares Outstanding (000’s)||126,442||122,874|
3 Year Average
|Finding, Development & Acquistion Costs(1) – Proved plus Probable (C$/boe)||15.65|
|Recycle Ratio – Proved plus Probable Including FDC (2)||2.1x|
|Production Replacement Ratio – Proved plus Probable (3)||251%|
(1) Finding, Development & Acquisition costs are including changes in future development costs ("FDC").
(2) Recycle ratio is calculated as operating netback divided by FD&A costs (proved plus probable including FDC). Operating netback is calculated as revenue (including realized hedging gains and losses) minus royalties, operating expenses and transportation expenses.
(3) Production replacement ratio is calculated as total reserve additions (including acquisitions and divestitures) divided by annual production.