Business
Baytex Announces 2026 Budget, Three-Year Outlook, Executive Appointment, and Board of Director Changes
Calgary, Alberta--(Newsfile Corp. - December 22, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") is pleased to announce its...
About this update from Baytex Energy Corp.
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - December 22, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") is pleased to announce its 2026 budget, three-year outlook, executive appointment and Board of Director changes.","length":260,"tagName":"p"},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"2026 capital budget of $550 to $625 million, targeting 3% to 5% production growth and prioritizing meaningful shareholder returns","length":129,"tagName":"p"}]},{"val":[{"type":"text","content":"Improved sustaining breakeven price(1) of US$52/bbl and strong liquidity position","length":81,"tagName":"p"}]},{"val":[{"type":"text","content":"Significant portion of Eagle Ford sale proceeds to be returned to shareholders; NCIB to resume, SIB under consideration, and annual dividend expected to be maintained","length":166,"tagName":"p"}]},{"val":[{"type":"text","content":"Three-year outlook demonstrates value of streamlined portfolio with sustainable growth at US$60-65 WTI","length":102,"tagName":"p"}]},{"val":[{"type":"text","content":"Updated $750 million credit facility extends maturity to 2030","length":61,"tagName":"p"}]},{"val":[{"type":"text","content":"Chad E. Lundberg appointed President and Chief Operating Officer","length":64,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":603,"olType":false},{"type":"text","content":""We are excited by the strength of our Canadian oil and gas portfolio, which positions us to deliver strong, consistent heavy oil performance and drive significant value creation in the Pembina Duvernay," said Eric T. Greager, Chief Executive Officer. "Looking ahead, we are targeting 3% to 5% annual production growth while investing in exploration and infrastructure for future development. Supported by our industry-leading net cash balance sheet, we are prioritizing shareholder returns in 2026. With a focused asset base, optimized cost structure, and enhanced financial flexibility, Baytex is well positioned to deliver sustainable growth and resilient performance through all market conditions."","length":722,"tagName":"p"},{"type":"text","content":""As we sharpen our focus on our core Canadian assets, we are pleased to announce the appointment of Chad Lundberg to the ...