| Year Ended December 31, | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| FINANCIAL (thousands of Canadian dollars, except per unit amounts) | |||||
| Petroleum and natural gas sales | 1,005,136 | 789,743 | 1,159,718 | 745,885 | 556,689 |
| Funds from operations(1) | 454,183 | 332,186 | 433,823 | 286,030 | 274,662 |
| Per share or unit - basic | 4.08 | 3.17 | 4.73 | 3.57 | 3.77 |
| Per share or unit - diluted | 3.93 | 3.10 | 4.51 | 3.34 | 3.45 |
| Cash distributions declared | 189,824 | 137,601 | 197,026 | 145,927 | 143,072 |
| Per unit | 2.18 | 1.56 | 2.64 | 2.16 | 2.16 |
| Net income | 177,631 | 87,574 | 259,894 | 132,860 | 147,069 |
| Per share or unit - basic | 1.59 | 0.83 | 2.83 | 1.66 | 2.02 |
| Per share or unit - diluted | 1.54 | 0.82 | 2.74 | 1.60 | 1.91 |
| Total monetary debt(1) | 502,190 | 474,276 | 533,092 | 444,065 | 336,810 |
| Operating netback (C$/boe) | |||||
| Sales price | 53.39 | 45.00 | 65.66 | 46.53 | 44.48 |
| Financial instruments gain (loss) | 2.98 | 5.36 | (4.05) | (0.24) | 0.20 |
| Royalties | (10.04) | (8.67) | (13.99) | (7.70) | (6.80) |
| Operating expenses | (10.62) | (10.83) | (11.62) | (10.09) | (8.98) |
| Transportation expenses | (2.92) | (3.22) | (2.83) | (2.31) | (1.95) |
| Operating netback | 32.79 | 27.64 | 33.17 | 26.19 | 26.95 |
| Capital expenditures | |||||
| Exploration and development | 236,979 | 157,044 | 184,678 | 148,719 | 132,381 |
| Acquisitions, net of dispositions | 46,644 | 133,077 | 265,099 | 245,427 | 702 |
| Total capital expeditures | 283,623 | 290,121 | 449,777 | 394,146 | 133,083 |
| OPERATING | |||||
| Daily production | |||||
| Light oil & NGL (bbl/d) | 6,539 | 6,937 | 7,575 | 5,483 | 3,735 |
| Heavy oil (bbl/d) | 28,585 | 24,678 | 23,530 | 22,092 | 21,325 |
| Total oil (bbl/d) | 35,124 | 31,615 | 31,105 | 27,575 | 25,060 |
| Natural gas (mmcf/d) | 55.3 | 58.6 | 54.8 | 51.9 | 55.4 |
| Oil equivalent (boe/d @6:1)(2) | 44,341 | 41,382 | 40,239 | 36,222 | 34,292 |
| Percent oil | 79% | 76% | 77% | 76% | 73% |
| Proved plus probable reserves | |||||
| Light oil & NGL (mmbbl) | 40.4 | 29.1 | 31.4 | 20.8 | 11.7 |
| Heavy oil (mmbbl) | 167.4 | 145.6 | 126.1 | 122.5 | 108.7 |
| Total oil (mmbbl) | 207.8 | 174.7 | 157.5 | 143.3 | 120.4 |
| Natural gas (bcf) | 127.2 | 133.7 | 178.2 | 148.9 | 148.1 |
| Oil equivalent (mmboe)(2) | 229.0 | 197.0 | 187.1 | 168.1 | 145.1 |
| FD&A costs (proved plus probable, excluding FDC) (C$/boe) | 5.90 | 11.63 | 13.11 | 10.90 | 7.31 |
| Recycle ratio | 5.6 | 2.4 | 2.5 | 2.4 | 3.7 |
| COMMON SHARE OR TRUST UNIT INFORMATION | |||||
| TSX | |||||
| Unit price (C$) | |||||
| High | 48.15 | 30.50 | 35.37 | 22.92 | 28.66 |
| Low | 27.72 | 9.77 | 12.81 | 16.68 | 16.81 |
| Close | 46.61 | 29.70 | 14.65 | 19.00 | 22.28 |
| Average daily volume traded | 419,862 | 446,799 | 489,752 | 342,004 | 408,973 |
| NYSE(3) | |||||
| Unit price (US$) | |||||
| High | 47.82 | 29.32 | 35.20 | 21.74 | 25.87 |
| Low | 25.64 | 7.84 | 10.16 | 15.51 | 16.63 |
| Close | 46.82 | 28.30 | 11.95 | 19.11 | 18.96 |
| Average daily volume traded | 85,272 | 131,908 | 136,418 | 71,962 | 110,805 |
| Common shares or units outstanding at December 31 (thousands) | 113,712 | 109,299 | 97,685 | 87,169 | 77,498 |
(1) Funds from operations and total monetary debt are non-GAAP terms. For further explanation refer to the Management's Discussion and Analysis for the year ended December 31, 2010.
(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.
(3) Data reflects the periods since commencement of trading on March 27, 2006 on the NYSE.
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.