Baytex Energy Corp.NYSE
Wed, Nov. 30, 9:23 AM
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Tue, Nov. 22, 6:05 PM
- Baytex Energy (NYSE:BTE) agrees to buy oil assets in the Peace River region of northern Alberta from an unnamed sellers in a deal worth C$65M.
- BTE says the mostly heavy oil assets are adjacent to its existing Peace River lands and would add ~3K boe/day to its total production of 67K boe/day.
- BTE says the deal more than doubles its land position in the Peace River region, one of its core operation areas.
Tue, Nov. 22, 5:38 PM
Mon, Nov. 21, 9:15 AM
Wed, Nov. 2, 7:39 AM
Tue, Nov. 1, 5:30 PM
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Fri, Jul. 29, 5:39 PM
Thu, Jul. 28, 7:33 AM
Thu, Jun. 23, 11:42 AM
- Baytex Energy (BTE +3.6%) says the Canada Revenue Agency has reassessed tax filings from some of its subsidiaries denied millions of dollars worth of non-capital loss deductions, which could result in a $134M tax bill for the company.
- The CRA sent BTE a notice in 2014 that proposed a reassessment of tax claims for 2011-13; BTE confirmed yesterday that the reassessments had been completed plus reassessments of deductions for 2014-15, and now expects the tax bill to reach $120M, plus ~$14M in interest payments.
- BTE says it plans to appeal the findings but does not expect the total tax bill to climb further.
Wed, Jun. 8, 7:27 PM
- Baytex Energy (NYSE:BTE) has restarted nearly all the heavy crude production it shut last year, encouraged by the recent rally in oil prices, Reuters reports.
- BTE has not drilled any new wells, but old wells that were uneconomic are coming back on now that prices have picked up, according to the report.
- A year ago, BTE began shutting 7.5K bbl/day of low-margin and loss-making conventional heavy oil production in the Peace River and Lloydminster regions in western Canada.
Tue, Jun. 7, 2:02 PM
Tue, May 3, 7:35 AM
- Baytex Energy (NYSE:BTE): Q1 EPS of $0.00 beats by $0.31.
- Revenue of $153.59M (-45.8% Y/Y) misses by $0.3M.
Fri, Apr. 1, 8:32 AM
- Last night, Baytex (NYSE:BTE) announced amendments to its bank credit facilities, including a reduction to $575M (from $815M). The company was also able to restructure its financial covenants.
- Canaccord analyst Dennis Fong says the moves were largely expected, "but modestly positive as it removes concerns over a potential covenant breach."
- Baytex expects to realize savings of $8M in 2016 from lower interest expense and standby fees. At the end of Q4, Baytex had $2,02B in net debt, and would have been 32% drawn on the revised credit facilities, "providing ample room for continued operations even in the volatile commodity price environment."
- "We continue to believe Baytex represents a high torque way for investors to participate in a recovering oil price environment. In addition, we view continued strong performance from the company’s Eagle Ford.
- Fong has a Buy rating and $C6.00 target on Baytex. Implied upside 17%.
- Fong ranks #658 out of 3,840 analysts on TipRanks.
- Now read: When Analysts Warn About A Dividend Cut, Should You Listen? »
Wed, Mar. 9, 9:15 AM
- Gainers: LINE +27%. ATSG +24%. REXX +21%. DNR +19%. CRC +17%. BUFF +14%. LNCO +14%. BIOC +14%. SXE +14%. CJES +14%. SGY +14%. BETR +11%. AMRN +10%. BTE +9%. DANG +9%. BCEI +8%. GGB +7%. WLL +7%. SDLP +7%. EXPR +7%. CLF 6%. PBR 6%. CHK 6%. PBR.A 5%.
- Losers: SDRL -13%. DSX -9%. BPT -9%. GRPN -5%. PLNT -5%. YELP -5%.
Thu, Mar. 3, 7:36 AM
- Baytex Energy (NYSE:BTE): Q4 FFO of C$0.44 may not be comparable to consensus of -C$0.27.
- Revenue of C$230.2M (-51.3% Y/Y) misses by C$7.36M.
Wed, Mar. 2, 5:30 PM