Investment Highlights High Quality and 10 or more years of projected drilling inventory in each of our Diversified Oil Portfolio core areas (Viking, Eagle Ford and Canadian heavy oil) Across Multiple Plays Strong capital efficiencies…
Corporate Profile Market Summary Ticker Symbol TSX / NYSE: BTE Average Daily Volume (1) CAN: 17.5 million / US: 5.0 million Shares Outstanding (2) 560 million Market Capitalization / Enterprise Value (2) 246 million / 2,298…
ESG Highlights GHG Emission Reduction Safety Established target to 55% reduction in lost reduce GHG emissions time incident frequency intensity by 30% by 2021 in 5 years Gas Conservation Indigenous Relations 99.1% routine gas 32…
Q1 2020 Highlights Generated production of 98,452 boe/d (83% oil and NGL) Delivered adjusted funds flow of 133 million (0.24 per basic share) Issued US500 million principal amount of 8.75% senior unsecured notes due April 2027…
Responding Decisively to COVID-19 The oil and gas industry is facing an unprecedented challenge due to significant degradation and volatility in global crude oil prices We are focused on protecting the health and safety of our…
Maintain Financial Liquidity Credit Facilities 35% Balance Sheet (1) millions Undrawn Bank loan (2) 679 417 million of undrawn Long-term notes (3) 1,271 capacity on credit facilities and Long-term debt 1,950 315 million of…
Minimize Capital Outlays 50% reduction in capital 2020 Guidance (1) spending E&D CapEx 260 - 290 million 260 to 290 million, from 500 to 575 million, previously. Production 70,000 - 74,000 boe/d Oil and NGLs 82% Drilling and…
Emphasize Cost Reductions Total Cost Reductions of 135 million Intensely focused on driving further efficiencies in our G&A Discretionary spending eliminated; operations reduced salaries and annual retainers paid to Board of…
2020E Adjusted Funds Flow Sensitivities Estimated Effect on Annual Adjusted Funds Flow (MM) (1) (2) Sensitivities Excluding Hedges Including Hedges (3) Change of US1.00/bbl WTI crude oil 20.2 17.4 Change of US1.00/bbl WCS heavy…
Top Quartile Capital Efficiencies 45,000 40,000 2018 All-In Capital Efficiencies, excl. A&D (/boe/d) Weighted Average (/boe/d) Oil 25,000 35,000 Gas 12,800 30,000 Mixed 21,600 All 19,500 25,000 20,000 15,000…
Asset Overview
Asset Highlights Geographic and play diversification with 10 or more years drilling inventory in each core area Eagle Ford Viking Heavy Oil East Duvernay Production 36,190 boe/d 24,696 boe/d 31,211 boe/d 1,799 boe/d (Gross;…
Eagle Ford: Core of Karnes County 19,900 net acres in the core of the Eagle Ford shale in south Texas Wilson Four AMIs (Longhorn, Sugarloaf, Ipanema and Excelsior) with average 25% W.I. Karnes Q1/2020 production of LONGHORN…
Eagle Ford: Strong Free Cash Flow and Deep Drilling Inventory Production Asset Level Free Cash Drilling Inventory (2) (mboe/d) Flow (1) (C millions) (net locations) Stable production and 724MM cumulative 10 year inventory at deep…
Enhanced Completions Drive Step Change in Well Performance 180 Day Cumulative Well Production Completion Activity 175 Stage Hz Length Proppant of 17% increase 2019 over 2017 2019 Spacing (ft) (lbs/ft) Stages 150 5% increase 2019…
Viking Light Oil: 460 Highly Prospective Sections Shallow (700 m), light oil (36 API) resource play with strong netbacks Produced a record 24,700 boe/d (92% oil) in Q1/2020 Added 229 net unbooked drilling opportunities in…
Technical Advancements Drive Productivity Improvement Shift to ERH(1) Wells Drives Productivity 95%+ of Viking Development now Improvements ERH Wells 400 100% Viking Wells by Vintage 350 90% 80 80% 300 70% 70 250 60% 60 200…
Peace River: Innovative Multi-Lateral Development Performance Drivers Produced 16,100 boe/d in Q1/2020 (87% oil) Golden Dominant 560 net sections Strong capital efficiencies Seal Harmon Valley Peavine Lands Q1/2020…
Lloydminster: Significant Land Position and Drilling Inventory Performance Drivers Produced 15,100 boe/d in Q1/2020 (99% oil) Ardmore/Cold Lake Strong capital efficiencies Applying multi-lateral horizontal drilling and…
Heavy Oil Innovation Lloydminster Peace River Horizontal Multi-Lateral Horizontal 25
East Duvernay Shale Light Oil: Emerging Resource Play Pembina Region 275 sections of 100% WI lands Nine wells drilled to date have delineated a minimum of 100- 125 sections Produced 1,800 boe/d (81% liquids) in Q1/2020 Two…
High Quality Oil Development Eagle Ford Viking Peace River (1) Lloydminster (1) East Duvernay Formation Lower Eagle Ford Viking Bluesky Mannville Group Duvernay Upper Eagle Ford Austin Chalk Depth (metres) 3,300-3,900 700 600…
Corporate Sustainability
Corporate Sustainability At Baytex, we believe that commitment to corporate responsibility is just as important as delivering financial and operational targets. We publish a biennial Corporate Sustainability Report which provides…
GHG Emissions Reduction Target to reduce GHG emission intensity (tonnes of CO2 per boe) by 30% by 2021. Our emissions reduction strategy includes: Increasing gas conservation Reusing associated gas as fuel for field activities…
A Culture of Commitment How it contributes to Objective What weve done Result value creation Ensure our employees and 76% reduction in corporate spill ENVIRONMENT Reduces costs and maintains Responsibly develop contractors…
Reserves Summary (Gross) 2P Reserves Breakdown 2P Reserves by Asset 2P Reserves by Commodity East Other Duvernay Natural Gas PDP Heavy Eagle Probable Ford Oil Light Oil Heavy + NGL Oil PDNP + PUD Viking Category (1)…
2020 Guidance and Cost Assumptions Exploration and development expenditures ( millions) 260 - 290 Production (boe/d) 70,000 - 74,000 Expenses: Royalty rate (%) 20% Operating (/boe) 11.75 - 12.50 Transportation (/boe) 0.80 - 0.90…
Contact Information Baytex Energy Corp. Edward D. LaFehr President and Chief Executive Officer Suite 2800, Centennial Place 587.952.3000 520 3rd Avenue S.W. Calgary, Alberta T2P 0R3 Rodney D. Gray T 587.952.3000 Executive Vice…
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