Baytex's Third Quarter Highlighted by Strong Free Cash Flow Generation
Baytex’s third-quarter results were highlighted by additional free cash flow generation and the resumption of production from previously shut-in heavy oil wells in Canada that led to an increase in full-year production guidance.Third-quarter production came in at 67 thousand barrels of oil equivalent per day, or mboe/d, down 4% sequentially and 18% year over year, with higher Canadian volumes offset by lower U.S. production. During the quarter, Baytex brought back on line shut-in heavy oil prod...
Baytex Energy is a conventional oil and gas company engaged in the acquisition, development and production of petroleum and natural gas in the Western Canadian Sedimentary Basin and the United States. As of Dec 31 2010, total proved reserves for light and medium oil consisting of 18,416 thousand barrels gross (15,335 thousand barrels net), heavy oil consisting of 104,978 thousand barrels gross (87,384 thousand barrels net), natural gas liquids consisting of 2,825 thousand barrels gross (2,015 thousand barrels net) and natural gas consisting of 83,800 million cubic feet gross (70,300 million cubic feet net).
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