Baytex Energy (BTE) is working with advisers to gauge interest in its Eagle Ford shale operations, which could sell for up to $3B, David Carnevali and Dinesh Nair of Bloomberg reports, citing people familiar with the matter. The company expanded its Eagle Ford exposure just two years ago with the acquisition of Ranger Oil, Bloomberg notes. The sale of its U.S. operations would allow Baytex on its Canadian assets. Shares of Baytex are up 4% to $2.68 following the report.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BTE: