- BTE (TSX)
- 58.20
-0.04- BTE (NYSE)
- 58.18
- -0.26
-
-
-
Investor Relations
IN FOCUS
Q3 2011 VideoBaytex's President & CEO, Anthony Marino discusses the Q3 2011 results and recent divestitures See our video »
-
-
-
-
-
-
Corporate Responsibility
Corporate Responsibility Home Environment, Health & Safety Community Investment Community Policy IN FOCUS
Community InvestmentBaytex believes in supporting the communities in which our employees live and work.
Find out how Baytex gives back »
-
Corporate Profile
- Home»
- About Baytex»
- Corporate Profile
Company Description
Baytex Energy Corp. is a Calgary, Alberta based oil and gas corporation engaged in the acquisition, development and production of oil and natural gas in the Western Canadian Sedimentary Basin. The company also has an emerging presence in the United States. As a result of changes to trust taxation laws in Canada which came into effect on January 1, 2011, Baytex converted its legal structure from a trust to a corporation and is executing a growth-and-income model. Baytex is committed to maintaining its production and asset base through internal property development and delivering consistent returns to its shareholders. Baytex currently pays a monthly dividend of C$0.20 per share. Baytex's common shares are traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
| As of November 9, 2011 | YTD High Price | YTD Low Price | AVG Daily Volume* |
|---|---|---|---|
| TSX: BTE (C$) | 58.76 | 39.18 | 821,000 |
| NYSE: BTE (US$) | 61.95 | 36.89 | 392,000 |
Areas of Operation
Investment Perspective
- Proven operational and financial track record with industry-leading capital efficiencies
- Diversified asset portfolio with quality heavy oil, light oil and natural gas assets located in the Western Canadian Sedimentary Basin
- Significant position in heavy oil and light oil resource plays
- Multi-year low-cost development inventory
- Strong balance sheet providing financial flexibility
- Long-term market out-performance but still compelling relative market valuation
Snapshot of Baytex Energy Corp.
| Nov. 9, 2011 | Q3 2011 | Dec. 31, 2010 | |
|---|---|---|---|
| Enterprise Value (C$, billion)* | $6.9 | ||
| Monthly Dividend (C$/share) | $0.20 | ||
| Payout Ratio (net of DRIP) | 35% | ||
| Production Volume (boe/d) | 52,625 | ||
| P+P Reserves (MMboe) | 229.0 | ||
| Reserve Life Index (P+P, years) | 13.2 |
Operating Highlights
| Q3 2011 | Q3 2010 | |
|---|---|---|
| Production (before royalties) | ||
| Light Oil & NGL (bbl/d) | 7,170 | 6,600 |
| Heavy Oil (bbl/d) | 37,280 | 28,959 |
| Total Oil (bbl/d) | 44,450 | 35,559 |
| Natural Gas (MMcf/d) | 49.0 | 55.4 |
| Oil Equivalent (boe/d) | 52,625 | 44,799 |
| Drilling Program | ||
| Wells Drilled (gross/net) | 48/39.4 | 36/28.0 |
| Success Rate % (gross/net) | 100/100 | 97/99 |
Financial Highlights
| (C$ thousand, except per share amounts) | Q3 2011 | Q3 2010 |
|---|---|---|
| Petroleum & Natural Gas Sales | 313,787 | 238,276 |
| Funds from operations | 144,822 | 110,881 |
| Per Share (basic) | 1.24 | 0.99 |
| Cash dividends declared | 50,270 | 45,795 |
| Per Share | 0.60 | 0.54 |
| Common Shares Outstanding (000’s) | 116,755 | 112,333 |
Capital Investment Efficiency
|
3 Year Average (2008-2010) |
|
|---|---|
| Capital Expenditures (C$ million) (2008-2010 total) | 1,024 |
| Finding, Development & Acquisition Costs(1) – Proved plus Probable (C$/boe) | |
| Exploration & Development | 7.39 |
| Acquisitions – net | 15.37 |
| Total Corporate | 9.54 |
| Recycle Ratio – Proved plus Probable Excluding FDC (2) | 3.3 |
| Recycle Ratio – Proved plus Probable Including FDC (2) | 2.0 |
| Reserves Replacement Ratio – Proved plus Probable (3) | 233% |
(1) Finding, Development & Acquisition costs are excluding changes in future development costs ("FDC").
(2) Recycle ratio is calculated as operating netback divided by FD&A costs. Operating netback is calculated as revenue minus royalties, operating expenses and transportation expenses.
(3) Reserve replacement ratio is calculated as total reserves added in the year divided by production for the same year.
In This
Section
On This Page
Related Links
Our operations are organized into Canadian Heavy Oil, Canadian Light Oil and Gas and United States business units.
In addition to shareholders, Baytex has a responsibility to the communities in which we work and do business.
Learn more about the
business of heavy oil in our marketing section.
- © 2010 Baytex Energy Corp.
- info@baytex.ab.ca