Baytex Energy Corp. (TSX: BTE) has closed the sale of its Kerrobert thermal asset located in southwest Saskatchewan, for net proceeds of approximately C$42M.
Production from the asset is approximately 2,000bbl/d (100% heavy oil). The non-core disposition further streamlines the company’s portfolio and the net proceeds from the sale will be applied against outstanding bank indebtedness.
To reflect the disposition, Baytex has updated our 2025 production guidance to 148,000 to 152,000boe/d (150,000 to 154,000boe/d, previously). The disposition is not expected to meaningfully impact the company’s exploration and development expenditures or free cash flow profile for 2025.
Baytex Energy Corp. is an energy company with headquarters based in Calgary, Alberta, and offices in Houston, Texas. The company is 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 US. Baytex’s common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
To read more about this, please visit www.baytexenergy.com
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