BTEGF - Baytex Energy: Extra Heavy Oil Profitability

• Heavy oil is more profitable than light oil in the current environment.
• Profits and cash flow often disappear for heavy oil during industry downturns when the discount expands due to weak pricing.
• The Clearwater play is bringing on extremely low cost heavy oil production.
• The Clearwater play will decrease the corporate breakeven as a more profitable sales mix is established.
• Clearwater will likely enable the company to increase cash flow and profitability throughout the business cycle which will lead to a higher stock price valuation.

For further details see: