Baytex Announces 2026 Budget, Three-Year Outlook, Executive Appointment, and Board of Director Changes

Baytex Energy Corp. has announced its 2026 budget and three-year outlook, including a capital budget of $550 to $625 million aimed at 3% to 5% production growth and prioritizing shareholder returns. The company expects an improved sustaining breakeven price of US$52/bbl and a strong liquidity position. A significant portion of the Eagle Ford sale proceeds will be returned to shareholders through a resumed normal course issuer bid (NCIB) and consideration of a substantial issuer bid (SIB), with the annual dividend expected to be maintained. The three-year outlook indicates sustainable growth at US$60-65 WTI, supported by a streamlined portfolio. Baytex has also updated its credit facility to $750 million, extending the maturity to 2030. Chad E. Lundberg has been appointed President and Chief Operating Officer. The company anticipates a net loss on the disposition of its Eagle Ford properties, estimated between $250 to $350 million, along with a deferred tax expense of approximately $140 million. Baytex expects to release its year-end 2025 operating and financial results on March 5, 2026.