", On January 1, 2011, Penn West converted from a CANROY to a conventional corporation. CALGARY, Alberta, July 29, 2020 (GLOBE NEWSWIRE) -- Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three and six months ended June 30, 2020 (all amounts are in Canadian dollars unless otherwise noted). Baytex Energy Corp. is an oil and gas corporation based in Calgary, Alberta. The Eagle Ford in Texas represents approximately 41% of our production. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. View our most recent presentationClick to view Events and Presentations », Learn more about our core resource plays.Explore Baytex Operations », View Reports and Filings:Reports & Filings», Read the report here: View the Report ». The Alberta Energy Regulator and Energy Minister Ken Hughes have publicly expressed concern about Baytex's conduct and have emphasized that the impacts being caused by Baytex are out of the ordinary. Use the PitchBook Platform to explore the full profile. [21], Canadian Light and Medium Oil and Gas[23] (less than 290,000 acres of undeveloped land, produced at an average rate of 15,063 boe/d in 2009, 56.6% natural gas), Penn West was one of a group of oil and gas producers which also included Advantage, ARC Energy, Baytex Energy, Bonavista Energy, Bonterra, Canadian Oil Sands, Crescent Point Energy, Daylight Resources, Enerplus Resources, Enterra, Fairborne Energy, Freehold Royalty, NAL Oil & Gas, Paramount, Pengrowth, Penn West Exploration, Peyto Energy, Progress Energy, Provident Energy, Trilogy, Vermillion Energy and Zargon Energy who did not pay "federal income taxes if they distributed their income to shareholders. [4][7], In 2011 and 2016, respectively, Baytex acquired "heavy oil assets located in the Reno and Seal areas of its northern Alberta Peace River area. [3][19], There are 5 principal subsidiaries that the company operates through; Baytex Energy Ltd., Baytex Energy Partnership, Baytex Energy Oil & Gas Ltd and Baytex Energy (USA) Ltd.[20] 2P reserves totalled 197 million barrels of oil equivalent at the end of 2009. The deal gave Baytex control of the Seal heavy oil property in Alberta and increased daily production by 3,650 boe. In February 2011 it completed a $156.5 million deal with a private company for heavy oil assets in Saskatchewan (near Seal Lake and Lloydminster). [4] Through its subsidiaries, Baytex is "engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of Alberta and Saskatchewan) and in the United States (in the state of Texas). What companies has Baytex Energy acquired? CALGARY, Alberta, July 06, 2020 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (TSX, NYSE: BTE) is pleased to announce that Edward LaFehr, President and CEO, will be presenting at the TD Securities 2020 Virtual Energy Conference on Wednesday July 8, 2020 at 3:35 pm EDT. [15] Yet Baytex continues to produce in open vented tanks and several families remain out of their homes. Baytex Energy Corp. is a Calgary-based Canadian producer, developer and explorer of oil and natural gas.Formerly a trust, it converted to a corporation January 2011 because of government changes to tax incentives. Baytex Energy's main competitors are: Crescent Point Energy Corp, Pengrowth Energy Corporation, Provident Energy Trust, Enerplus Corporation. [14] The Alberta Government has expressed serious concerns about what Baytex is doing and has taken the unprecedented step of not only not allowing Baytex any new well licences in the area and but has also convened a public inquiry. Because emissions from these tanks are known to cause health effects and affect air quality other companies like Penn West Petroleum use fully closed vapour recovery systems. You will indemnify and forever save harmless Baytex, its subsidiaries and affiliates and their respective directors, officers, employees, servants or agents from any damages arising out of any breach by you of the foregoing warranties and representations. Click on the map to learn more about our core areas. Baytex Energy has 242 employees at their 1 location. Interested parties can listen to the webcast and view the presentation slides via the following URL: Baytex Announces Second Quarter 2020 Financial and Operating Results, Baytex Conference Call and Webcast on Second Quarter 2020 Results to be Held on July 30, 2020, Baytex to Present at TD Securities 2020 Virtual Energy Conference. Our crude oil and natural gas operations are organized into five main operating areas: Peace River, Lloydminster, Viking, Duvernay and the Eagle Ford. That is why Baytex is not technically violating any laws by open venting its bitumen processing tanks. Who are Baytex Energy’s main competitors? "[5] Heavy oil makes up 50% of production while the EagleFord shale oil represents the other 50%. Director, Information Technology & Informatio... Baytex Energy’s headquarters are in 2800, 520 - 3rd Ave SW, Calgary, Alberta, T2P 0R3, Canada, Baytex Energy’s phone number is (587) 952-3000. Baytex Energy Corp. is a Calgary-based[3] Canadian producer, developer and explorer of oil and natural gas. In April 2008 it completed a $181 million takeover of Burmis Energy Inc, a Calgary-based oil and natural gas producer (72% of production was natural gas) that was nine times smaller than Baytex at the time. Consequently, all trusts converted to corporations, and many cut their dividends. Baytex Energy has acquired the companies: Rock Energy Inc., Aurora Oil & Gas Limited, Eureka Energy Limited, The technologies that are used by Baytex Energy are: Lodgify, Freshservice, Intel Security, Office 365, 2800, 520 - 3rd Ave SW, Calgary, Alberta, T2P 0R3, Canada. Regulations have not been developed for the CHOPS method of oil sands production being used by Baytex. The deal which included properties near Lloydminster and Kerrobert, Saskatchewan (heavy oil) and also central Alberta (natural gas) increased production and cash flow by 7% and 6% respectively. The board of directors of Baytex (the "Board") is responsible for the stewardship of Baytex and its subsidiaries. [5], Early on (1993–2000) the company was more focused on developing light oil and natural gas containing properties in North and SE Alberta. Eventually the government cracked down and starting in 2011, trusts were required to pay the same taxes as regular corporations. How many employees are working in Baytex Energy? [13] Baytex has chosen not to expend the money installing these systems on the 86 super-heated oil sands processing tanks in the area despite reporting a record 200% rate of return on investment. Several Peace River farming families have complained about "tar and solvent-like odours and emissions associated with heavy-crude operations across the region" after Baytex Energy began production. In Jan 19, 2006, Baytex Energy Trust announced that the New York Stock Exchange had cleared Baytex to file an Original Listing Application to list its trust units on the NYSE. "This kind of development was experiencing different emissions, and different air quality problems." [9], In October 2010 it sold half of the interest it had in the Kerrobert heavy oil properties to Petrobank Energy and Resources (including another asset acquired in Dawson the transaction cost Petrobank $15 million, Petrobank's THAI and CAPRI technology can help Baytex exploit more of the resource).[10][11]. Minister Ken Hughes told CBC News the Mar. A return rate that Baytex claims is one of the highest for any oil project in North America. The Board’s mandate includes: the review and approval of the strategic direction of the corporation, its capital and financial plans, as well as implementation and monitoring of appropriate risk management systems;

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