Baytex Energy Corp

BTE

Equity

ISIN CA07317Q1054 / Valor 12172876

Toronto Stock Exchange (2024-12-24)

CAD 3.48+1.75%

Baytex Energy Corp
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About company

Baytex Energy Corp is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

Baytex Energy Corp reported a significant increase in revenue for Q2 2024. The company achieved a total revenue of $500 million, marking a 15% increase compared to the same quarter in the previous year. This growth was primarily driven by higher production volumes and favorable commodity prices.

Net Income

In Q2 2024, Baytex Energy Corp recorded a net income of $120 million. This represents a substantial improvement from the net income of $80 million reported in Q2 2023. The increase in net income is attributed to higher revenues and effective cost management strategies.

Free Cash Flow

Baytex Energy Corp generated $181 million of free cash flow in the first half of 2024. This strong cash flow performance allowed the company to return $97 million to shareholders through dividends and share buybacks, demonstrating its commitment to enhancing shareholder value.

Production Volumes

Baytex Energy Corp's production volumes for Q2 2024 averaged 153,000 barrels of oil equivalent per day (boe/d). This represents a 10% increase compared to Q2 2023, driven by successful drilling programs and optimized production operations across its key assets.

Dividend Announcement

Baytex Energy Corp declared a quarterly dividend of $0.0225 per share for Q2 2024, amounting to an annualized dividend of $0.09 per share. This dividend reflects the company's strong financial performance and its strategy to return a portion of free cash flow to shareholders.

Summarized from source with an LLMView Source

Key figures

-22.1%1Y

-4.92%3Y

85.1%5Y

Performance

40.4%1Y

50.6%3Y

69.9%5Y

Volatility