Baytex Energy Corp. Closes U.S. Eagle Ford Sale

Baytex Energy Corp. announced the closure of its U.S. Eagle Ford Assets sale for net proceeds of US$2.14 billion. This strategic divestiture significantly strengthens the company's financial position and sharpens its focus on its Canadian energy platform, resulting in a net cash position. Baytex intends to use a portion of the proceeds to repay its outstanding credit facilities and redeem its 8.500% Senior Notes due 2030. Additionally, the company has initiated a cash tender offer for its US$575 million of outstanding 7.375% Senior Notes due 2032. Baytex remains committed to returning a significant portion of the net proceeds to shareholders and plans to resume purchases under its normal course issuer bid. The company expects to release its 2026 guidance on December 22, 2025.