Record Production in Pembina Duvernay
Pembina Duvernay achieved a new quarterly production record averaging just over 10,000 BOE per day, with a 53% increase from the previous quarter.
Robust Free Cash Flow and Debt Reduction
Baytex generated $143 million in free cash flow and reduced net debt by $50 million to $2.2 billion, supported by strong operational execution and cost discipline.
Heavy Oil and Eagle Ford Asset Performance
Heavy oil production grew 5% quarter-over-quarter, and Eagle Ford volumes increased by 3%, contributing to steady volumes and strong cash flow.
Significant Financial Liquidity
Baytex has over $1.3 billion in undrawn credit capacity, with strong financial liquidity and no debt maturing until April 2030.
Improved Drilling and Completion Costs
The company achieved a 12% improvement in drilling and completion costs in the Eagle Ford operations.