Ranger Acquisition Overview and Canada Light Oil Update
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CANADA LIGHT OIL: PEMBINA DUVERNAY/ VIKING
High netback light oil with strong asset level free cash flow (1)
Pembina Duvernay Shale is a potential growth asset in the Canadian portfolio
Pembina Duvernay
176 net sections
Demonstration-stage light oil resource play
Produced 2,000 boe/d in H1/2023 (81% liquids)
Measured commercialization underway
6 net wells onstream in Q3/2023
Viking
512 net sections
Stable production and meaningful asset level free cash flow (1)
Produced 16,100 boe/d in H1/2023 (88% liquids)
Repeatable light oil (36° API) resource play
2
Expect to bring 46 net wells onstream in H2/2023
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(1)
PEMBINA
DUVERNAY
Two 3-well pads drilled
in Q1/2023 with wells
onstream in Q3/2023
**
3-well pad drilled in 2022
on northern edge of land
base tracking to type
well forecast (90-day
initial production rates
of ~ 700 boe/d)
RED DEER
CALGARY
LLOYDMINSTER
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VIKING
T35
KINDERSLEY
B.C.
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R1W5
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ALBERTA
R1W4
SASKATCHEW AN
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R1W3
Specified financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable with the calculation of similar measures presented by other entities. Refer to the Specified Financial Measures section in this presentation for further information.
BAYTEX ENERGY NYSE/TSX BTE
17
T30
T25
T19
R19W2View entire presentation