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Baytex Eyes Eagle Ford, Alberta for Drilling Growth in 2024

Baytex Eyes Eagle Ford, Alberta for Drilling Growth in 2024

Attachment: Baytex 2024 outlook

December 7, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Baytex Energy Corporation (NYSE:BTE) expects to produce about 153,000 barrels of oil equivalent per day (BOE/d) in 2024, with about 60% in the Eagle Ford and 40% in Canada. From 2024 through 2028, Baytex expects to see annual production growth of 1% to 4%, with production reaching roughly 170,000 BOE/d in 2028.

Industrial Info is tracking US$1.2 billion worth of active and planned projects from Baytex, more than half of which is in Alberta's Mannville and Montney shale formations. The company significantly strengthened its role in the Eagle Ford earlier this year when it acquired pure play Ranger Oil Corporation for US$2.5 billion. In southwestern Saskatchewan, Baytex agreed last month to sell some of its Viking assets in the Forgan and Plato areas.