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Baytex Freezes Canadian Activity; Eagle Ford Drives Production Growth
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Baytex Energy Corp. reported its operating and financial results for the three months ended March 31, 2016 (all amounts are in Canadian dollars unless otherwise noted).
Key Points: Capital expenditures for exploration and development activities totaled $81.7 million in Q1/2016 and included the drilling of 45 (13.5 net) wells with a 100% success rate. Eagle Ford: Capital expenditures totaled $76.8 million in the Eagle Ford, representing 96% of our exploration and development spending during the quarter. Canada: Production in Canada averaged 34,709 boe/d (80% oil and NGL) during Q1/2016 as compared to 40,826 boe/d in Q4/2015. The reduced volumes in Canada reflect the impact of production that was shut-in during the first quarter and the fact there has been no heavy oil drilling since…- ✓ Full news archive — U.S., Canada & international coverage
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