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 October 25, 2013||YTD High Price||YTD Low Price||AVG Daily Volume*|
|TSX: BTE (C$)||47.61||36.37||456,300|
|NYSE: BTE (US$)||47.47||34.71||158,500|
|October 25, 2013||Q3 2013||Dec. 31, 2012|
|Enterprise Value (C$, billion) (1)||$6.1|
|Monthly Dividend (C$/share)||$0.22|
|Payout Ratio (net of DRIP)||31%|
|Production Volume (boe/d)||60,184|
|P+P Reserves (MMboe)||292|
|Reserve Life Index (P+P, years)(2)||14.5|
(1) Calculated based on closing price of Baytex shares of C$42.65 on the TSX composite on October 25, 2013, and shares outstanding as of September 30, 2013.
(2) Based on 2012 Year-End Reserves and Q4 2012 production.
|Q3 2013||Q3 2012|
|Production (before royalties)|
|Light Oil & NGL (bbl/d)||8,366||7,047|
|Heavy Oil (bbl/d)||44,908||40,580|
|Total Oil (bbl/d)||53,274||47,627|
|Natural Gas (mcf/d)||41,460||40,524|
|Oil Equivalent (boe/d)||60,184||54,381|
|Wells Drilled (gross/net)||76/58.3||55/47.9|
|Success Rate % (gross/net)||99/98||98/98|
|(C$ thousand, except per share amounts)||Q3 2013||Q3 2012|
|Petroleum & Natural Gas Sales||422,791||299,786|
|Funds from operations||199,318||139,044|
|Per Share (basic)||1.61||1.15|
|Cash dividends declared||61,354||52,640|
|Common Shares Outstanding (000’s)||124,497||120,962|
3 Year Average
|Finding, Development & Acquisition Costs(1) – Proved plus Probable (C$/boe)|
|Exploration & Development||16.61|
|Acquisitions – net||7.40|
|Recycle Ratio – Proved plus Probable Excluding FDC (2)||4.7|
|Recycle Ratio – Proved plus Probable Including FDC (2)||2.3|
|Reserves Replacement Ratio – Proved plus Probable (3)||274%|
(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. Operating netback is calculated as revenue minus royalties, operating expenses and transportation expenses.
(3) Reserve replacement ratio is calculated as total reserves added in the year divided by production for the same year.