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Baytex Lowers Production Guidance, Reduces Canadian Activity
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Baytex Energy Corp. has reported its operating and financial results for the three and nine months ended September 30, 2015 (all amounts are in Canadian dollars unless otherwise noted).
Highlights Production averaged 82,170 boe/d (81% oil and NGL) in Q3/2015 as compared to 84,770 boe/d in Q2/2015. The reduction in volumes is largely attributable to reduced activity levels in Canada. Produced approximately 39,000 boe/d in the Eagle Ford with 14 wells brought onstream during the quarter generating average 30-day initial production rates of approximately 1,350 boe/d; Realized drilling cost savings in the Eagle Ford of greater than 10% for the second consecutive quarter (an overall reduction of 27% compared to 2014) Approximately $1.05 billion in undrawn capacity on our credit…- ✓ Full news archive — U.S., Canada & international coverage
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