A: Baytex Energy, $5.51, symbol BTE on Toronto (Shares outstanding: 210.7 million; Market cap: $1.2 billion; www.baytexenergy.com), explores for, develops and produces oil and gas in Alberta, Saskatchewan and Texas. Its output is 23% gas and 77% oil.
In the quarter ended June 30, 2016, Baytex’s cash flow per share fell 49.4%, to $0.39 from $0.77 a year earlier. Most of that drop was because of lower oil and gas prices, but falling output also contributed to the decline. Baytex capped some of its wells to wait for oil and gas prices to move higher. As a result, production fell 17.4%, to 70,031 barrels of oil equivalent per day from 84,770 barrels.
However, cash flow for the quarter was up 77.3% from $0.22 in the previous quarter, ended March 31, 2016.
Like many producers, the company continues to cut its exploration and development spending. For all of 2016, it plans to spend $200 million to $225 million. That’s a drop from Baytex’s initial…
Privacy Policy and Terms of Use
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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