A preliminary short form prospectus containing important information relating to the securities of Baytex Energy Corp. (the Company) described in this presentation has not yet been filed with the securities regulatory authorities in each…
Strategic Acquisition of Aurora Oil & Gas - Baytex has entered into an agreement to acquire Aurora Oil & Gas - Aurora is listed on the Toronto and Australia Stock Exchanges (TSX: AEF, ASX: AUT) - Acquisition to be completed by way of…
Strategic Rationale Exposure to World Class Oil Resource Play Increased Scale and Diversity of Production Diversifies asset base into the core of the Total gross production upon closing is forecast liquids-rich Eagle Ford, one of…
Aurora Acquisition Metrics AUD CAD Notes (1) Aurora reserves based on Baytex Aurora Share Price (CAD/AUD = 0.9744) 4.10 4.00 internal estimates of Aurora reserves as at December 31, 2013 prepared by a non- independent qualified…
Baytex 2014E Pro Forma Production and FFO Baytex Pro Forma Production (Mboe/d) 61 88-90 Funds from Operations (C billions) 0.7 1.0-1.1 Average Shares Outstanding (millions) 127 162 FFO per Share (C undiluted) 5.50 6.45 FFO Accretion…
Baytex Pro Forma Liquidity (B) Equity Issue Size (1) Coupon Principal Due C1.3B C1.5B (2) Long Term Notes: Baytex Series B Debentures (US) 6.750% Feb-2021 0.2 0.2 Baytex Series C Debentures (C) 6.625% Jul-2022 0.3 0.3 Aurora…
Pro Forma Production and Reserves (1) Baytex Stand-Alone Baytex Pro Forma Aurora Production (2014E) = 61 mboe/d Combined Production (2014E) = 88-90 mboe/d NGL 3% Natural Gas Light Oil Natural Gas Light Oil 11% 11% 13% 21% NGL…
Key Attributes of Aurora - Material Production and High Quality Reserve Base - Substantial inventory of potential well locations to support future production growth - Reserve upside exists through additional horizons in the Austin…
Key Attributes of Aurora (continued) - Increasing Development Performance and Recovery - A subsidiary of Marathon Oil Corporation is the operator of the majority of Auroras Eagle Ford position - Continuous improvements in drilling…
Eagle Ford Acreage Position Baytex is acquiring 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,…
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…
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;…
Attractive Well Economics Condensate Completed Well Cost US7.3M Production (30-day IP) 900-1,000 boe/d % Liquids 72% Capital Efficiency (1) US8,000 per boe/d IRR (before tax) (2) 100% Volatile Oil Completed Well Cost US7.8M…
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…
Conclusion - 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 positions Baytex in another…
Scheme of Arrangement Summary Scheme of Arrangement under Australian law expected to take 108 days to complete Key Dates (1) February 6 Day 1 Implementation Agreement executed March 6 Day 29 Scheme of Arrangement documents drafted…
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