Ranger Acquisition Adds Quality Eagle Ford Scale
H2/2023 OUTLOOK
Return 50% of
Free Cash Flow (1)
Share buybacks + dividend
Execute an exploration and development program of
$601 to $641 million
Onstream 32 net wells in the Eagle Ford and 92 net
wells in Canada
Target average production of 153,000 to 157,000 boe/d
(84% oil and NGLs)
Return 50% of free cash flow (1) to shareholders through
share buybacks and a dividend
Introduce quarterly dividend of $0.0225 per share
($0.09 per share annualized) (2)
155,000 boe/d
Mid-point H2/2023 production
H2/2023 Guidance
E&D Expenditures
Production
Oil and NGLS
Operating Area
U.S. Light Oil (4)
Canada Light Oil (5)
Canada Heavy Oil (6)
Total
Net Wells
Onstream
32
52
40
$601 $641 million
153,000 157,000 boe/d
84%
E&D Expenditures
($MM) (3)
$440
$90
$90
$620
(1)
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.
(2)
Refer to the Dividend Advisory section in the presentation for further information.
(3)
Represents mid-point of H2/2023 guidance range.
(4)
U.S. Light Oil includes Operated Eagle Ford/Karnes Trough Eagle Ford.
(5)
Canada Light Oil includes Viking/Duvernay.
(9)
Canada Heavy Oil includes Peace River (Bluesky) / Peavine (Clearwater) / Lloydminster (Mannville).
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