1Q16 results in line to slightly better than expectations. Marathon disclosures point to Eagle Ford 1Q16 well costs averaging ~US$0.8 mm less than BTE’s guidance. Some shut-in heavy oil production to be restarted, with possibly more if oil prices hold. Full-time salaries and director retainers reduced 10%. Target price increased $0.50 to $5.50/share, ranking unchanged at Market Perform
05 May 2016
1Q16 Results, Lower Eagle Ford Costs
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1Q16 Results, Lower Eagle Ford Costs
Baytex Energy Corp. (BTE:TSE) | 0 0 (-2.1%) | Mkt Cap: 758.2m
- Published:
05 May 2016 -
Author:
Michael P. Dunn -
Pages:
8
1Q16 results in line to slightly better than expectations. Marathon disclosures point to Eagle Ford 1Q16 well costs averaging ~US$0.8 mm less than BTE’s guidance. Some shut-in heavy oil production to be restarted, with possibly more if oil prices hold. Full-time salaries and director retainers reduced 10%. Target price increased $0.50 to $5.50/share, ranking unchanged at Market Perform