Baytex Energy Corp.

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  • Jul. 29, 2014, 5:48 PM
    • SM Energy (NYSE:SM) agrees to acquire 61K North Dakota net acres from Baytex Energy (NYSE:BTE) for $330M.
    • Production from the assets averaged ~3,200 boe/day in Q2; as of Dec 31, the assets were estimated to have proved plus probable reserves of 53.5M boe (81% oil and natural gas liquids).
    • The purchase includes nterests in 126 drilling spacing units, 81 of which will be operated by SM.
    • In light of the acquisition, SM says in its Q2 earnings report that it will provide updated capital, production and performance guidance in mid-August.
    • BTE says the sale is part of its plan to direct capital to the highest rate of return projects in its portfolio.
    | Jul. 29, 2014, 5:48 PM | 1 Comment
  • May 13, 2014, 8:59 AM
    • Baytex Energy (BTE) raises its previous offer for Australian company Aurora Oil & Gas to A$4.20/share (A$1.88B) from $4.10.
    • The move came as BTE said Harbour Advisors and Stirling Global Value Fund, which hold a combined 17.4% stake in Aurora, had stated they intended to vote for the scheme of arrangement in the absence of a superior offer.
    | May 13, 2014, 8:59 AM
  • Feb. 6, 2014, 4:43 PM
    • Baytex Energy Trust (BTE) agrees to acquire Australia-based Aurora Oil & Gas for ~$1.8B in cash plus assumption of ~$744M in debt.
    • Aurora's primary asset is 22,200 net contiguous acres in the Sugarkane field in south Texas in the core of the Eagle Ford shale; Aurora's Q4 2013 gross production was 24,678 boe/day (82% liquids) of predominantly light, high-quality crude oil.
    • BTE says the deal is highly accretive on a per share basis to reserves, production, and funds from operations.
    • BTE plans to increase its monthly dividend by 9% to $0.24/share, subject to the completion of the acquisition.
    • Shares halted.
    | Feb. 6, 2014, 4:43 PM | 3 Comments
  • Oct. 2, 2012, 8:51 AM

    Baytex Energy (BTE) agrees to buy ~46 sections of undeveloped oil sands leases in the Cold Lake area of Alberta for $120M. BTE says the acquisition adds an approved steam-assisted gravity drainage project to its asset portfolio, which currently includes thermal recovery projects at Seal in the Peace River Oil Sands and at Kerrobert in Saskatchewan.

    | Oct. 2, 2012, 8:51 AM
Company Description
Baytex Energy Corp is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Williston Basin in the United States.
Country: Canada