Baytex Energy Corp. · TSX:BTE

Baytex Energy — Q1 2021 Earnings Presentation

48 slides from Baytex Energy's earnings presentation, Apr 29, 2021

  1. Slide 1: Baytex Energy Corp. First Quarter 2021 Report

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  2. Slide 2: Financial and Operating Highlights

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  3. Slide 3: Financial and Operating Highlights, continued

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  4. Slide 4: Message to Shareholders: Q1 2021 Update

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  5. Slide 5: Production in the Viking and Operations Review

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  6. Slide 6: Management's Discussion and Analysis; Conference Call

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  7. Slide 7: Forward-Looking Statements and Non-GAAP Measures

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  8. Slide 8: Overview of Baytex Energy Corp.

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  9. Slide 9: Basis of Presentation and MD&A Notice

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  10. Slide 10: Net Debt and Financial Results

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  11. Slide 11: Canadian and U.S. Operating Segments

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  12. Slide 12: Oil Price Benchmarks and Differentials

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  13. Slide 13: Three Months Ended March 31: Pricing

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  14. Slide 14: Sales Volumes and Revenue

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  15. Slide 15: Operating Expense

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  16. Slide 16: Financial Derivatives and Risk Management

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  17. Slide 17: Commodity Financial Derivative Contracts

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  18. Slide 18: Operating Netback

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  19. Slide 19: General and Administrative; Interest and Financing Expense

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  20. Slide 20: Share-Based Compensation

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  21. Slide 21: Income Tax Recovery

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  22. Slide 22: Net Loss and Comprehensive Loss

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  23. Slide 23: Capital Expenditures and Liquidity

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  24. Slide 24: Long-Term Notes and Credit Facilities

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  25. Slide 25: Summary of Quarterly Results

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  26. Slide 26: Adjusted Funds Flow and Net Debt

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  27. Slide 27: Adjusted Funds Flow Reconciliation

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  28. Slide 28: Net Debt Calculation

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  29. Slide 29: Net Income and Adjusted Net Income Reconciliation

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  30. Slide 30: Forward-Looking Statements Advisory

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  31. Slide 31: Condensed Interim Consolidated Statements of Financial Position

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  32. Slide 32: Condensed Interim Consolidated Statements of Income and Comprehensive Income

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  33. Slide 33: Condensed Interim Consolidated Statements of Changes in Equity

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  34. Slide 34: Condensed Interim Consolidated Statements of Cash Flows

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  35. Slide 35: Notes to the Condensed Interim Consolidated Financial Statements

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  36. Slide 36: Segmented Information

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  37. Slide 37: Capital Expenditures

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  38. Slide 38: Transfers from Exploration and Evaluation Assets

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  39. Slide 39: Sensitivity of Estimated Recoverable Amount

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  40. Slide 40: Credit Facilities

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  41. Slide 41: Long-Term Notes

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  42. Slide 42: Share-Based Compensation Expense

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  43. Slide 43: Net Income (Loss) per Share

    &!%%"$%$ /GB3F 1/:1C:/B3A 0/A71 7<1=;3 =@ :=AA >3@ A6/@3 0/A32 =< B63 <3B 7<1=;3 =@ :=AA /BB@70CB/0:3 B= A6/@36=:23@A CA7<5 B63 E3756B32/D3@/53<C;03@=4A6/@3A=CBAB/<27<52C@7<5B63>3@7=2 7:CB327<1=;3=@:=AA>3@A6/@3/;=C<BA@34:31BB63>=B3<B7/: 27:CB7=< B6/B 1=C:2 =11C@ 74 A6/@3 /E/@2A /<2 A6/@3 =>B7=<A E3@

  44. Slide 44: Income Taxes

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  45. Slide 45: Financial Assets and Liabilities; Fair Value

    %&$' &% $% & )63 =;>/<GA 47</<17/: /AA3BA /<2 :7/07:7B73A /@3 1=;>@7A32 =4 1/A6 B@/23 /<2 =B63@ @3137D/0:3A B@/23 /<2 =B63@ >/G/0:3A 47</<17/: 23@7D/B7D3A 1@327B 4/17:7B73A /<2 :=<5 B3@; <=B3A )63 4/7@ D/:C3 =4 B63 1@327B 4/17:7B73A 7A 3?C/: B= B63 >@7<17>/: /;=C<B =CBAB/<27<5/AB631@327B4/17:7B73A03

  46. Slide 46: Financial Derivative Contracts Outstanding

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  47. Slide 47: Abbreviations

    ABBREVIATIONS AECO the natural gas storage facility located IFRS International Financial Reporting at Suffield, Alberta Standards bbl barrel LLS Louisiana Light Sweet bbl/d barrel per day mbbl thousand barrels boe* barrels of oil equivalent mboe* thousand barrels of oil equivalent boe/d barrels of o

  48. Slide 48: Corporate Information

    CORPORATE INFORMATION BOARD OF DIRECTORS OFFICERS Mark R. Bly Edward D. LaFehr Chair of the Board President and Chief Executive Officer Edward D. LaFehr Rodney D. Gray Director Executive Vice President and Trudy M. Curran (2)(4) Chief Financial Officer Director Brian G. Ector Don G. Hrap (1)(3) Vice

Baytex Energy — Q1 2021 Earnings Presentation on 6ix