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Baytex Delivers Solid Third Quarter 2025 Results with Record Pembina Duvernay Production and Strong Free Cash Flow
Calgary, Alberta--(Newsfile Corp. - October 30, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE...
About this update from Baytex Energy Corp.
[{"type":"text","content":"Baytex Delivers Solid Third Quarter 2025 Results with Record Pembina Duvernay Production and Strong Free Cash FlowCalgary, Alberta--(Newsfile Corp. - October 30, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (\"Baytex\" or the \"Company\")  reports its operating and financial results for the three and nine months ended September 30, 2025 (all amounts are in Canadian dollars unless otherwise noted).\"Baytex delivered solid third-quarter results highlighted by record production in the Pembina Duvernay, strong free cash flow generation, and further progress on debt reduction,\" said Eric T. Greager, President and Chief Executive Officer. \"Our heavy oil business continues to generate reliable returns and, through targeted land acquisitions, we are expanding our long-term inventory. In the Pembina Duvernay, a strategic property swap further consolidates our position, setting the stage for full-scale development. These results reinforce our focus on disciplined capital allocation and demonstrate the quality and value creation potential of our asset base as we work to drive sustainable value for shareholders.\"Third Quarter 2025 HighlightsDelivered production of 150,950 boe/d (86% oil and NGL), a 1% increase in production per basic share compared to Q3/2024.Generated free cash flow(1) of $143 million ($0.19 per basic share).Achieved record Pembina Duvernay production of 10,185 boe/d (77% oil and NGL), up 53% compared to Q2/2025.Increased heavy oil production 5% over Q2/2025 with continued strong performance. Brought 15.6 net wells to sales in the Eagle Ford with strong execution, achieving a 12% improvement in drilling and completion costs, compared to 2024. Expanded our heavy oil development fairway and consolidated Pembina Duvernay acreage through targeted land acquisitions and a property swap. Reported cash flows from operating activities of $473 million ($0.62 per basic share).Generated net income of $32 million ($0.04 per basic share). Delivered adjusted funds flow(2) of $422 million ($0.55 per basic share).Reduced net debt(2) by 2% ($50 million) and maintained balance sheet strength with a total debt(3) to Bank EBITDA(3) ratio of 1.1x.2025 OutlookWe remain committed to disciplined capital allocation, prioritizing free cash flow and strengthening our balance sheet. We continue to execute our 2025 plan and anticipate ful...