Topic: How To Invest

Q: Hello Pat: May I please have your opinion on Baytex Energy Corporation? Thank you.

Article Excerpt

A: Baytex Energy, $3.72, symbol BTE on Toronto (Shares outstanding: 235.5 million; Market cap: $873.5 million; www.baytexenergy.com), explores for, develops and produces oil and gas in Alberta, Saskatchewan and Texas. Its output is 21% gas and 79% oil. In the quarter ended June 30, 2017, Baytex’s cash flow rose 2.3%, to $83.1 million from $81.4 million a year earlier. The cash flow gain is mostly from higher oil and gas prices, but rising output also contributed to the decline. Cash flow per share fell 10.3%, to $0.35 from $0.39, due to more shares outstanding. Production rose 4.0%, to 72,812 barrels of oil equivalent per day from 70,031 barrels. The rise reflects drilling success, especially at the company’s Eagle Ford shale properties in South Texas. Baytex also resumed drilling in early 2017 at its Peace River and Lloydminster properties in Canada. As well, in January 2017, the company acquired heavy-oil properties in the Peace River area of Alberta for $66.1 million. Adjacent to the…