Baytex Energy Stock Price, News & Analysis

Baytex Energy Corp (TSX: BTE) (NYSE: BTE) has declared its quarterly cash dividend for April 2025. The company will pay CDN$0.0225 per share (approximately US$0.0158 at 1.42 CAD/USD exchange rate) on April 1, 2025, to shareholders of record as of March 14, 2025.

The dividend qualifies as an 'eligible dividend' for Canadian tax purposes and a 'qualified dividend' for U.S. tax purposes. Non-Canadian residents may be subject to applicable withholding taxes. Baytex operates in the Western Canadian Sedimentary Basin and Eagle Ford, focusing on crude oil and natural gas acquisition, development, and production.

Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) has scheduled the release of its fourth quarter and full year 2024 financial and operating results after market close on Tuesday, March 4, 2025. The company will host a conference call and webcast on Wednesday, March 5, 2025, to discuss the results.

Baytex Energy is an energy company headquartered in Calgary, Alberta, with offices in Houston, Texas. The company specializes in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and Eagle Ford in the United States.

Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) has completed the sale of its Kerrobert thermal asset in southwest Saskatchewan for $42 million. The sold asset produced approximately 2,000 bbl/d of heavy oil. Following this non-core disposition, Baytex has updated its 2025 production guidance to 148,000-152,000 boe/d, down from the previous 150,000-154,000 boe/d. The company plans to apply the proceeds toward reducing bank debt. The sale is not expected to significantly impact their 2025 exploration and development expenditures or free cash flow profile.

Baytex Energy has announced its 2025 budget with exploration and development expenditures of $1.2-1.3 billion, targeting average annual production of 150,000-154,000 boe/d. The budget is based on US$65/bbl WTI price, with 60% of capital program weighted to first half of 2025.

The company plans to allocate 55-60% of expenditures to Eagle Ford assets and 40-45% to Canadian assets. Production mix will be 85% liquids and 15% natural gas. The company intends to split free cash flow equally between shareholder returns (buybacks and dividends) and balance sheet strengthening.

In the Eagle Ford, Baytex expects to bring 54 net wells onstream, while in Canada, plans include nine net wells in Pembina Duvernay, 90 net wells in Viking, and 112 net wells in heavy oil operations, including 33 Clearwater wells at Peavine.

Baytex Energy reported Q3 2024 results with production of 154,468 boe/d (86% oil and NGL), up 3% from Q3 2023. The company generated $220 million in free cash flow and returned $101 million to shareholders through share buybacks ($83 million) and dividends ($18 million). Net income was $185 million ($0.23 per share) with adjusted funds flow of $538 million. The company reduced net debt by 5% to $2.5 billion.

For full-year 2024, Baytex expects production of approximately 153,000 boe/d with exploration and development expenditures of $1.25 billion. Based on current forward strip prices, the company anticipates generating free cash flow of about $570 million ($0.71 per basic share) in 2024.

Baytex Energy Corp (TSX: BTE) (NYSE: BTE) has declared a quarterly cash dividend of CDN$0.0225 per share, payable on January 2, 2025, to shareholders of record on December 13, 2024. The U.S. dollar equivalent is approximately US$0.0163 per share, assuming a foreign exchange rate of 1.38 CAD/US. The dividend qualifies as an 'eligible dividend' for Canadian tax purposes and a 'qualified dividend' for U.S. tax purposes, subject to applicable withholding taxes for non-Canadian residents.

Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) has scheduled the release of its third quarter 2024 financial and operating results after market close on Thursday, October 31, 2024. The company will host a conference call and webcast to discuss the results on Friday, November 1, 2024, at 9:00 a.m. MST (11:00 a.m. EST). Participants can register through the company's website for express access, or dial in directly using the provided international and North American toll-free numbers. The webcast recording will be available shortly after the event and archived on the Baytex website for three months.

Baytex Energy (TSX: BTE, NYSE: BTE) reported strong Q2 2024 financial results, highlighting increased production, disciplined capital spending, and significant free cash flow.

Production averaged 154,194 boe/d, up 2% from Q1 2024. Crude oil production increased 4% to 110,734 bbl/d. Reported cash flow from operations was $506 million ($0.62 per share), and adjusted funds flow was $533 million ($0.65 per share). The company generated $181 million in free cash flow and returned $97 million to shareholders through buybacks and dividends.

Key achievements include repurchasing 16.4 million shares at an average price of $4.84 and paying a quarterly dividend of $0.0225 per share. Baytex executed a $340 million exploration and development program and completed a $575 million private placement offering. The company extended the maturity of its $1.1 billion credit facilities to May 2028 and maintained a total debt to Bank EBITDA ratio of 1.1x.

For full-year 2024, Baytex expects production between 152,000 to 154,000 boe/d and plans to generate $700 million in free cash flow, 75% of which is anticipated in H2. The company continues to focus on shareholder returns and debt reduction.

Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) has declared a quarterly cash dividend of CDN$0.0225 per share, payable on October 1, 2024, for shareholders of record on September 16, 2024. The U.S. dollar equivalent is approximately US$0.0163 per share, assuming a foreign exchange rate of 1.38 CAD/US. This dividend is designated an "eligible dividend" for Canadian tax purposes and a "qualified dividend" for U.S. income tax purposes. Baytex Energy Corp. is an energy company focused on crude oil and natural gas acquisition, development, and production in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States.