Top Story | Exclusives / Features | Capital Markets | Capex Increase | Capital Expenditure - 2022
2022 Guidance Growth: Several Operators Bolster Capex, Production Outlook
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In response to the skyrocketing oil demand and D&C activity seen in 1Q22, several E&Ps have added additional capital to their 2022 budgets.
A few E&Ps have also adjusted production guidance expectations or drilling plans, increasing estimates or adding more wells.
Snapshot Baytex EnergyBaytex has added more capital to its 2022 budget, as well as increased its production estimates for the year.
- Revised 2022 Capex: $450-500 million (up by $50 million (+11%) from $400-450 million)
The incremental capital reflects additional activity on our Clearwater lands and the Eagle Ford as well as expected capital cost inflation.- Revised 2022 Production: 83,000 to 85,000 boe/d (+3% from prior estimates of 80,000-83,000 boe/d)
Baytex noted that it expects to exit 2022 producing approximately…- ✓ Full news archive — U.S., Canada & international coverage
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