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ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp.

Baytex Energy Corp. · May 15, 2014 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 1
    Annual and Special Meeting of Shareholders Calgary, Alberta James Bowzer May 15, 2014 President and Chief Executive Officer
  2. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 2
    Investment Highlights Focus on per share growth in production and reserves Organic Oil Growth Long-term, Low-Cost Inventory Sector-leading capital efficiency Operational excellence Meaningful Dividend Focus on dividend growth…
  3. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 3
    Corporate Profile Summary of Securities Trading Symbol TSX / NYSE: BTE Average Daily Volume (1) Canada: 1,105,900 / U.S.: 168,300 Shares Outstanding (Current) 126.4 million Market Capitalization / Enterprise Value 5.8 billion / 6.6…
  4. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 4
    Operating Areas Production (Q1 2014) Company Total = 59,502 boe/d Lloydminster Peace River Heavy Oil 33% Heavy Oil 43% Light Oil 13% Gas 11% Operating Income (Q1 2014) Company Total = 197 million (37/boe) Lloydminster…
  5. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 5
    Oil-Equivalent Production Growth 60,000 40,000 boe / d 61,000 57,196 53,986 50,132 44,341 20,000 40,239 41,382 34,022 34,647 34,292 36,222 0 (1) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Percent…
  6. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 6
    Reserve Growth / Contingent Resources Proved Probable 350 Oil-Equivalent Reserves (MMboe) 318 300 292 252 250 229 159 200 187 197 96 148 168 89 150 141 146 61 68 52 107 123 39 43 100 37 30 159 140 156 144 116 126…
  7. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 7
    Pending Eagle Ford Acquisition 11
  8. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 8
    Strategic Rationale - Baytex is acquiring premier acreage in the core of the Eagle Ford one of the leading shale oil plays in the U.S. - The assets to be acquired are an excellent fit with our business model and position Baytex in…
  9. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 9
    Eagle Ford Acreage Position Aurora holds 22,200 net contiguous acres in the prolific Sugarkane Field located in south Texas in the core of the liquids- rich Eagle Ford shale. The acquisition provides exposure to low-risk, repeatable,…
  10. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 10
    Eagle Ford Acreage Sweet Spot of a World-Class Play Eagle Ford Sweet Spot EUR Map Acreage Position Amongst Top Operators EURs exceed 500,000 barrels of oil across Auroras acreage is amongst top operators most of the acreage…
  11. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 11
    Eagle Ford Opportunity Summary Eagle Ford Type Log Current Development - 80,200 highly contiguous gross acres (22,200 net acres) in the most prolific area of the Eagle Ford - Lower Eagle Ford originally developed at 80-acre spacing;…
  12. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 12
    Baytex Pro Forma Three Key Oil Resource Plays 80% of Baytexs pro forma production comes from three oil plays Single Well Economics (excluding acreage acquisition costs) (1) Eagle Ford Peace River Heavy Oil Lloydminster Heavy Oil…
  13. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 13
    Profit Investment Ratio 0.0x 0.5x 1.0x 1.5x 2.0x 2.5x 3.0x Seal Cold Heavy Multi-Lateral - Hz SE Sask Viewfield Bakken - Hz Ante Creek Montney (75% oil) - Hz Marcellus (dry gas) - Hz Kaybob Montney Oil - Tier 1 - Hz…
  14. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 14
    Pro Forma Production and Reserves (1) Baytex Stand-Alone Baytex Pro Forma Aurora Production (2014E) = 60-62 Mboe/d Combined Production = 88 Mboe/d NGL 3% Natural Gas Light Oil Natural Gas 11% 11% 14% Light Oil NGL 13% 22% Heavy…
  15. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 15
    2014: A Break Out Year for Canadian Heavy - Market conditions remain positive with the forward market indicating a WCS differential of 20% for the remainder of this year (last nine months) - Positive catalysts unfolding in 2014 should…
  16. ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS – Baytex Energy Corp. – slide 16
    Why Invest in Baytex Superior Asset Base Income Payout Proven Track Record - Low cost development - Committed to paying a - Best-in-class balance sheet inventory oil focus meaningful dividend - Sophisticated risk - Sector leading…

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