News & Events zu Baytex Energy Corp. (BTE)BTEBaytex Energy Corp.

Baytex Energy Renews Normal Course Issuer Bid to Buy Up to 70,899,359 Shares

Baytex Energy announced that the Toronto Stock Exchange has accepted the company's notice of intention to renew its normal course issuer bid. The renewed NCIB allows Baytex to purchase up to 70,899,359 common shares during the 12-month period commencing July 2 and ending July 1, 2027 or such earlier time as the NCIB is completed or terminated at the option of Baytex. "Baytex's shareholder returns include a combination of share repurchases and quarterly dividend payments. Renewing the NCIB provides Baytex with the flexibility to continue common share repurchases, which are an efficient means to return capital and improve per share metrics. The number of shares authorized for purchase represents 10% of Baytex's public float, as defined by the TSX, as of June 19, 2026. On June 19, 2026 Baytex had 712,593,536 common shares outstanding," the company stated.

Baytex Energy Shares Down 8.9% to $3.00

Baytex Energy is down -8.9%, or -29c to $3.00.

Baytex Projects 75,000 boe/d Production by 2028 with 3%-5% Annual Growth

During Baytex's three-year outlook, 2026 to 2028, the Company expects to deliver 3%-5% annual production growth, reaching approximately 75,000 boe/d in 2028, with optionality to accelerate growth in a more constructive pricing environment. Baytex plans to maintain a net cash position throughout the period, excluding potential acquisitions. In the Pembina Duvernay, Baytex will complete the transition to a full one-rig drilling program in 2027, targeting 30% annual production growth and an 80% increase in field-level operating income by 2028. The three-year infrastructure build-out is expected to support production of 20,000-25,000 bbl/d by 2029-2030, with ongoing improvements in capital efficiency.