CA - Baytex Energy GAAP EPS of $0.47 revenue of $712.07M; reaffirms FY22 production guidance

• Baytex Energy press release ( OTCPK:BTEGF ): Q3 GAAP EPS of C$0.47.
• Revenue of C$712.07M (+45.7% Y/Y).
• Generated production of 83,194 boe/d (84% oil and NGL) in Q3/2022, a 4% increase over Q3/2021. Production in October increased to over 87,000 boe/d.
• Delivered adjusted funds flow of C$284M (C$0.51 per basic share) in Q3/2022, a 43% increase compared to C$198M (C$0.35 per basic share) in Q3/2021.
• Generated free cash flow of C$112 million (C$0.20 per basic share) in Q3/2022, an 11% increase compared to C$101 million (C$0.18 per basic share) in Q3/2021.
• Reported cash flows from operating activities of C$310 million (C$0.56 per basic share) in Q3/2022, a 73% increase compared to C$179 million (C$0.32 per basic share) in Q3/2021.
• 2022 Outlook: "We continue to execute our 2022 plan and anticipate full-year production of approximately 84,000 boe/d (mid-point of previous guidance range of 83,000 to 85,000 boe/d) with a targeted exit rate of 87,000 to 88,000 boe/d. Based on the forward strip for the balance of 2022  we expect to generate approximately $650M of free cash flow this year.
• We now anticipate full-year 2022 exploration and development expenditures of approximately $515 million, up 3% from our previously targeted $500 million (representing the high end of our prior guidance range of $450 to $500 million). "

For further details see: