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Calgary, Alberta--(Newsfile Corp. - November 3, 2022) - Baytex Energy Corp. (TSX: BTE) ("Baytex") reports its operating and financial results for the three and nine months ended September 30, 2022 (all
Calgary, Alberta--(Newsfile Corp. - April 28, 2022) - Baytex Energy Corp. (TSX: BTE) ("Baytex") reports its operating and financial results for the three months ended March 31, 2022 (all amounts are in
Q1/2021 Results During Q1/2021, we executed on our plan to maximize free cash flow and reduce debt. During the quarter, we delivered adjusted funds flow of $157 million ($0.28 per basic share). This resulted in free cash flow of $70 million, which, along with the Canadian dollar strengthening relative to the U.S. dollar, contributed to an $89 million reduction in our net debt. Production during the first quarter averaged 78,780 boe/d (81% oil and NGL), up 12% as compared to 70,475 boe/d (82% oil and NGL) in Q4/2020. The increased production largely reflects the resumption of drilling activity...
(1) The terms "adjusted funds flow", "exploration and development expenditures", "net debt" and "operating netback" do not have any standardized meaning as prescribed by Canadian Generally Accepted Accounting Principles ("GAAP") and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. See the advisory on non-GAAP measures at the end of this press release. (2) Barrel of oil equivalent ("boe") amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil. The use of boe amounts m...