2024-06-05 22:48:20 ET
Summary
- With the Trans Mountain Pipeline expansion, WCS differentials have narrowed to near negative US$12, which is a US$7 improvement compared to Q1 2024.
- This partially offsets the impact of weaker oil prices, with 2H 2024 WTI strip at around $73 now.
- Baytex's Q1 2024 results were in line with expectations, and its full-year guidance remains unchanged.
- It is now projected to generate US$472 million in 2024 free cash flow at current strip.
Baytex Energy ( BTE ) (BTE:CA) reported solid Q1 2024 results that were in-line with expectations and left its full-year guidance unchanged. Baytex is now benefiting from the completion of the Trans Mountain Pipeline expansion, which has reduced the WCS differential by around US$7 compared to Q1 2024....
Read the full article on Seeking Alpha
For further details see:
Baytex Energy: Narrower WCS Differentials Partially Offset Lower Oil Prices