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United States

Profile: Baytex Energy Corp (BTE.N)

BTE.N on New York Stock Exchange

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Baytex Energy Corp. (Baytex), incorporated on October 22, 2010, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company's crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects. The Company's subsidiaries include Baytex Energy Ltd. and Baytex Energy USA, Inc. Baytex Energy Ltd. is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in Canada. Baytex Energy USA, Inc. is engaged in the business of oil and natural gas exploration, exploitation, development, acquisition and production in the United States. It holds all of the operating assets in the United States.

Lloydminster Business Unit

The Lloydminster Business Unit's heavy oil operations include primary and thermal production. Production is generated from vertical, directional/slant and horizontal wells using progressive cavity pumps capable of handling large volumes of heavy oil combined with gas, water and sand. The oil is delivered to markets in Canada and the United States through pipelines, tanker trucks or railways. As of December 31, 2016, its production in the Lloydminster Business Unit averaged 10,170 barrels of oil equivalent per day (boe/d), which consisted of 8,391 barrels per day (bbl/d) of heavy oil; 1,544 bbl/d of bitumen, and 1,382 thousand cubic feet per day (Mcf/d) of natural gas. The properties within the Lloydminster Business Unit include Cold Lake/Ardmore, Alberta; Carruthers, Saskatchewan; Celtic, Saskatchewan; Kerrobert/Hoosier, Saskatchewan, and Tangleflags, Saskatchewan. Baytex has working interest in sections of undeveloped oil sands leases in the Angling Lake (Cold Lake) area of northern Alberta.

Conventional Business Unit

The Conventional Business Unit produces light oil, natural gas and natural gas liquids from various fields in northern, southeast and central Alberta. As of December 31, 2016, production from this business unit averaged 8,419 boe/d, which consisted of 2,675 bbl/d of light oil and natural gas liquid (NGL) and 34,453 Mcf/d of natural gas. As of December 31, 2016, it had 139,313 net acres of undeveloped land in this business unit.

Peace River Business Unit

The Peace River Business Unit produces heavy gravity crude oil, bitumen, and natural gas mainly from the Bluesky formation in the Peace River region of north west Alberta. As of December 31, 2016, Baytex held a total of 338 net sections of oil sands leases in the Peace River area, which included the Harmon Valley area and the Reno area. As of December 31, 2016, production from the Peace River area averaged 13,651 bbl/d of heavy oil, and 4,180 Mcf/d of natural gas (14,348 boe/d). As of December 31, 2016, Baytex had 180,199 net undeveloped acres of oil sands leases in this area.

United States Business Unit

As of December 31, 2016, Baytex had an interest in 80,200 (22,200 net) acres in the Sugarkane area located in South Texas in the core of the liquids-rich Eagle Ford shale through its Aurora. The assets include both operated and non-operated assets. As of December 31, 2016, production from the United States Business Unit averaged approximately 28,046 bbl/d of tight oil and NGL and 51,167 Mcf/d of shale gas (36,573 boe/d).

Company Address

Baytex Energy Corp

2800-520 3 Ave SW
CALGARY   AB   T2P 0R3
P: +1587.9523000
F: +1587.9523029

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