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Researched by Industrial Info Resources (Sugar Land, Texas)--Oil and gas producer Baytex Energy Corporation (NYSE:BTE) (Calgary, Alberta) is preparing to continue operations at its major production fields in 2025, with only slightly lower projected output when compared with 2024, as the Canadian oil and gas industry wrestles with the fallout from U.S President Donald Trump's tariffs. Industrial Info is tracking more than US$2.5 billion worth of active and proposed projects from Baytex, with 60% of its production in the Eagle Ford Shale in Texas and the rest in western Canada.
Click on the image at right with a graph detailing Baytex's proposed investments for the 2025-26 period, by province or state.
"In 2025, we are targeting continued strong performance in the Eagle Ford, further progression of the Pembina Duvernay and capital-efficient heavy-oil development," the company said in a quarterly earnings-related press release. "We anticipate first-quarter production of approximately 144,000 barrels of oil equivalent per day (BOE/d), with volumes increasing over the balance of the year."
Baytex executives acknowledged rough winter weather across North America resulted in "modest production disruptions across our operations" in the current quarter, but said the company's full-year 2025 production guidance remains unchanged at 148,000 to 152,000 BOE/d, following 153,048 BOE/d of production from full-year 2024. Exploration and development expenditures are expected to total between $1.2 billion and $1.3 billion for full-year 2025.
The company's operational focus on the Eagle Ford is expected to bring onstream 54 new wells in 2025, including 41 net-operated wells, as part of its US$730 million drilling program in and around Karnes City, Texas. Baytex aims to further evaluate and expand its Longhorn, Sugarloaf, Ipanema and Excelsior fields, while "targeting a 7% improvement in operated drilling and completion costs per completed lateral foot compared to 2024," according to the press release.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can learn more about the Karnes City development in a detailed project report.
Baytex's 2024 production in the Eagle Ford averaged 89,100 BOE/d, about 81% of which was oil or natural gas liquid (NGL), while the company brought onstream 64 new wells, including 51 net-operated wells.
In its Canadian light-oil business, Baytex expects to bring onstream nine new wells in the Pembina Duvernay area and 90 new wells in the Viking Field in 2025, as part of its US$85 million program in Sedalia, Alberta, and US$190 million program near Coleville, Saskatchewan, respectively. Subscribers can learn more from detailed reports on the Pembina Duvernay and Viking projects.
Baytex's 2024 production from its Canadian light-oil business unit averaged 16,701 BOE/d, about 83% of which was oil or NGL. The company brought onstream seven new wells in the Pembina Duvernay and 95 new wells in the Viking.
In its Canadian heavy-oil business, Baytex expects to bring onstream 33 new wells as part of its US$75 million Clearwater, Peavine and Seal developments in the Peace River Field, 13 new wells as part of its US$40 million Bluesky development in the Peace River Field, and 61 new wells across its US$105 million of developments in the broader Mannville group of formations in the Lloydminster Field. Subscribers can learn more from detailed reports on the Clearwater-Peavine-Seal, Bluesky and Lloydminster projects.
Baytex's 2024 production from its Canadian heavy-oil business unit averaged 43,704 BOE/d, about 95% of which was oil or NGL. The company brought onstream 31 new wells from its Clearwater, Peavine and Seal developments; nine new wells from its Bluesky development; and 40 new wells across the broader Mannville group in Lloydminster.
Trump's tariffs on goods imported from Canada went into effect Tuesday, including a 10% tariff on Canadian energy imports. In its quarterly earnings statement, Baytex tried to assure investors that its "geographic diversification will provide a measure of insulation," but included "the risk of an extended period of low oil and natural gas prices (including as a result of tariffs)" among the "numerous known and unknown risks and uncertainties" in its advisory regarding forward-looking statements.
For more information on the turmoil around tariffs, see March 5, 2025, article - Trump Tariffs Take Effect, and Retaliation Ramps Up, and March 4, 2025, article - Canada Braces for Tariff Impacts.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Baytex.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right with a graph detailing Baytex's proposed investments for the 2025-26 period, by province or state."In 2025, we are targeting continued strong performance in the Eagle Ford, further progression of the Pembina Duvernay and capital-efficient heavy-oil development," the company said in a quarterly earnings-related press release. "We anticipate first-quarter production of approximately 144,000 barrels of oil equivalent per day (BOE/d), with volumes increasing over the balance of the year."
Baytex executives acknowledged rough winter weather across North America resulted in "modest production disruptions across our operations" in the current quarter, but said the company's full-year 2025 production guidance remains unchanged at 148,000 to 152,000 BOE/d, following 153,048 BOE/d of production from full-year 2024. Exploration and development expenditures are expected to total between $1.2 billion and $1.3 billion for full-year 2025.
The company's operational focus on the Eagle Ford is expected to bring onstream 54 new wells in 2025, including 41 net-operated wells, as part of its US$730 million drilling program in and around Karnes City, Texas. Baytex aims to further evaluate and expand its Longhorn, Sugarloaf, Ipanema and Excelsior fields, while "targeting a 7% improvement in operated drilling and completion costs per completed lateral foot compared to 2024," according to the press release.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can learn more about the Karnes City development in a detailed project report.
Baytex's 2024 production in the Eagle Ford averaged 89,100 BOE/d, about 81% of which was oil or natural gas liquid (NGL), while the company brought onstream 64 new wells, including 51 net-operated wells.
In its Canadian light-oil business, Baytex expects to bring onstream nine new wells in the Pembina Duvernay area and 90 new wells in the Viking Field in 2025, as part of its US$85 million program in Sedalia, Alberta, and US$190 million program near Coleville, Saskatchewan, respectively. Subscribers can learn more from detailed reports on the Pembina Duvernay and Viking projects.
Baytex's 2024 production from its Canadian light-oil business unit averaged 16,701 BOE/d, about 83% of which was oil or NGL. The company brought onstream seven new wells in the Pembina Duvernay and 95 new wells in the Viking.
In its Canadian heavy-oil business, Baytex expects to bring onstream 33 new wells as part of its US$75 million Clearwater, Peavine and Seal developments in the Peace River Field, 13 new wells as part of its US$40 million Bluesky development in the Peace River Field, and 61 new wells across its US$105 million of developments in the broader Mannville group of formations in the Lloydminster Field. Subscribers can learn more from detailed reports on the Clearwater-Peavine-Seal, Bluesky and Lloydminster projects.
Baytex's 2024 production from its Canadian heavy-oil business unit averaged 43,704 BOE/d, about 95% of which was oil or NGL. The company brought onstream 31 new wells from its Clearwater, Peavine and Seal developments; nine new wells from its Bluesky development; and 40 new wells across the broader Mannville group in Lloydminster.
Trump's tariffs on goods imported from Canada went into effect Tuesday, including a 10% tariff on Canadian energy imports. In its quarterly earnings statement, Baytex tried to assure investors that its "geographic diversification will provide a measure of insulation," but included "the risk of an extended period of low oil and natural gas prices (including as a result of tariffs)" among the "numerous known and unknown risks and uncertainties" in its advisory regarding forward-looking statements.
For more information on the turmoil around tariffs, see March 5, 2025, article - Trump Tariffs Take Effect, and Retaliation Ramps Up, and March 4, 2025, article - Canada Braces for Tariff Impacts.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Baytex.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
