Baytex Announces Extension to Bank Credit Facilities

Rhea-AI Summary

Baytex Energy (NYSE: BTE) has successfully extended its US$1.1 billion revolving credit facilities by one year, from May 2028 to June 2029. The facilities are not borrowing base facilities and do not require annual or semi-annual reviews.

Baytex Energy is a Calgary-based energy company with operations in the Western Canadian Sedimentary Basin and Eagle Ford in the United States, focusing on crude oil and natural gas acquisition, development, and production.

Positive

• Extended US$1.1 billion credit facilities by one year to June 2029
• Strong support received from lending syndicate
• Credit facilities do not require annual or semi-annual reviews

Negative

• None.

Calgary, Alberta--(Newsfile Corp. - June 27, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE)  ("Baytex" or the "company") is pleased to announce that it has received strong support from its lending syndicate to extend its bank credit facilities.

The US$1.1 billion revolving credit facilities have been extended by one year, from May 2028 to June 2029. The revolving credit facilities are not borrowing base facilities and do not require annual or semi-annual reviews.

Baytex Energy Corp

Baytex Energy Corp. is an energy company based in Calgary, Alberta and offices in Houston, Texas. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.

For further information about Baytex, please visit our website at www.baytexenergy.com or contact:

Brian Ector, Senior Vice President, Capital Markets and Investor Relations

Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257099

FAQ

What is the new maturity date for Baytex Energy's (BTE) credit facilities?

Baytex Energy's US$1.1 billion revolving credit facilities have been extended to June 2029, a one-year extension from the previous May 2028 maturity date.

How much are Baytex Energy's (BTE) revolving credit facilities worth?

Baytex Energy's revolving credit facilities are worth US$1.1 billion.

Does Baytex Energy (BTE) require annual reviews for its credit facilities?

No, Baytex Energy's revolving credit facilities are not borrowing base facilities and do not require annual or semi-annual reviews.

What are Baytex Energy's (BTE) main areas of operation?

Baytex Energy operates in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States, focusing on crude oil and natural gas acquisition, development, and production.