Asset Sale And Debt RepaymentBaytex announced the sale of its U.S. Eagle Ford assets for approximately $3.25 billion, enabling the company to repay all outstanding debt and focus on aggressive share repurchase programs.
Leverage Profile ImprovementThe monetization event is expected to immediately strengthen Baytex’s leverage profile with expectations of a $900 million net cash position following the deal’s close.
Production And GrowthBaytex Energy has identified 2,200 Canadian drilling locations, supporting a 3-5% growth target and showcasing strong Duvernay results with a heavy oil fairway ripe for exploration.