• Baytex Energy Corp.
  • BTE (TSX)
  • Baytex Energy Corp.
  • BTE (NYSE)
  • Baytex Energy Corp.
Baytex Energy Corp.

Why Invest in Baytex

  

World Class Asset Base (1)

  • Enterprise value ~ $3.6 billion
  • > 97,000 boe/d (October 2018)
  • 2P Reserves 539 mmboe
  • Leading oil plays in the best jurisdictions

High Return Light Oil Assets 

  • Strong oil price diversification
  • 80% of operating netback derived from high margin, light oil assets in the Viking and Eagle Ford

Attractive Growth and Free Cash Flow (2)(3)(4)

  • Capability to deliver 5% -10% annual production growth
  • ~ $900 million adjusted funds flow and $325 million free cash flow

Superior Capability to Optimize Capital Allocation

  • Well defined 10+ year drilling inventory
  • Strong oil price diversification
  • Positioned to develop East Duvernay Shale oil play

Strong Balance Sheet (2)(3)

  • 2.1x net debt to adjusted funds flow
  • Strong financial liquidity
  • No long-term debt maturities until 2021

Top Tier Team with Focus On Operational Excellence

  • Enhanced platform for growth
  • Build on strong operational momentum
  • Drive further operational excellence and shareholder returns

(1) Reserves based on Baytex gross reserves as at December 31, 2017 as evaluated by Sproule Unconventional Limited and Ryder Scott Company, L.P., and Raging River gross reserves as at December 31, 2017 as evaluated by Sproule Associates Limited and GLJ Petroleum Consultants Ltd.
(2) Based on 2019 preliminary guidance
(3) Based on constant pricing pricing assumptions: WTI - US$70/bbl; LLS - US$75/bbl, WCS differential - US$30/bbl; NYMEX Gas - US$2.90/mcf; Exchange Rate (CAD/USD) - 1.30.
(4) Free Cash Flow is defined as adjusted funds flow less sustaining capital. Sustaining capital is an estimate of the amount of exploration and development capital required to offset production declines on an annual basis and maintain flat production.  Sustaining capital is estimated at $575 million.

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Explore Our
Operations

Our operations are organized into Canadian Heavy Oil, Canadian Light Oil and Gas and United States business units.

Operations Map

Operations Map
Responsible Development

Baytex Energy’s Good Neighbour program is a company-wide program that focuses on being a welcomed neighbour in the communities in which we operate.

Good Neighbour Program

Understanding
Heavy Oil

Learn more about the
business of heavy oil in our marketing section.


Learn More

Understanding Heavy Oil