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Stock impact report

Baytex completes sale of Eagle Ford assets for $2.14bn [Yahoo! Finance]

Baytex Energy Corp Common Shares (BTE) 
Last baytex energy corp common shares earnings: 3/4 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
The company said that it will use part of the proceeds to pay down its outstanding credit facilities and redeem its 8.5% Senior Notes due 2030. In addition, Baytex has launched a cash tender offer for its $575m of outstanding 7.37% Senior Notes due 2032. The strategic sale is expected to strengthen Baytex's financial position and enhance its focus on a high-return Canadian energy platform and long-term value creation. Baytex stated that it is committed to returning a substantial share of the net proceeds (following debt repayment) to shareholders and plans to restart purchases under its regular course issuer bid. Last month, Baytex announced the agreement to sell its Eagle Ford assets to an undisclosed buyer for $2.305bn in cash. The company's Canadian inventory includes more than 2,200 drilling locations, supporting a targeted annual production growth rate of 3-5% at $60-65 per barrel WTI (West Texas Intermediate). The sale is part of the company's broader portfolio opti Show less Read more
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