Baytex Energy Corp. (TSE:BTE) has released an update.
Baytex Energy Corp. reports a successful first quarter in 2024 with a 21% increase in adjusted funds flow per share and a 15% hike in production per share. The company executed its largest E&D program to date and is on track to generate about $700 million of free cash flow, intending to split this evenly between reinforcing the balance sheet and rewarding shareholders. Baytex maintains a strong financial position, with significant liquidity and a balanced debt profile, and has kept its 2024 guidance steady.
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