Baytex Energy Corp.

Baytex Energy Corp.

Baytex Energy Corp.

Overview
Date Founded

2010

Headquarters

Centennial Place, East Tower,520-3rd Avenue SW,Suite 2800,Calgary, AB T2P 0R3

Type of Company

Public

Employees (Worldwide)

136

Industries

Oil & Gas
Alternative Energy
Power & Utilities

Company Description

Baytex Energy Corp. is a dividend-paying oil and gas corporation based in Calgary, Alberta. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Williston Basin in the United States. Approximately 87% of Baytex's production is weighted toward crude oil. Baytex pays a monthly dividend on its common shares which are traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.

Executives & Employees

President & Chief Executive Officer

Chief Financial Officer & Executive Vice President

Chief Operating Officer & Executive Vice President

Vice President, General Counsel & Corporate Secretary

Senior Vice President, Capital Markets & Public Affairs

Senior Vice President, Marketing

Vice President, Lloydminster, Conventional & US Business Units

Vice President, Land

Vice President, Peace River Business Unit

Vice President, US Business Unit of Company & Baytex

Board of Directors

Former Chief Executive Officer & Executive Chairman of the Board at Baytex Energy LP

Former Minister of Seniors & Community Supports at Province of Alberta

Former Senior Managing Director & Head-Energy Investment at Raymond James Ltd. - Canada

President & Chief Executive Officer at Baytex Energy Corp.

Former Executive Vice President, Safety & Operational Risk at BP Plc

Deputy Managing Partner at ACM Ltd.

Managing Partner at Burnet, Duckworth & Palmer LLP

Former Secretary & General Counsel at Canadian Oil Sands Trust

President at Kyklopes Capital Management Ltd.

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Baytex Energy Corp.
Owners & Shareholders
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Luminus Management seeks to achieve positive investment returns by identifying inefficiencies in the power, energy, utilities and related sectors. They formulate investment decisions based on the use of fundamental and technical analysis. The firm's core strategy focuses on investments across the capital structure of publicly traded power, energy, utility and related companies. Luminus also implements opportunistic investments within these sectors. They may seek both short-term and long-term trading opportunities.Luminus' core strategy focuses on investments across the capital structure of publicly traded power, energy, utilities and related companies. The firm also implements opportunistic investments in the power markets and private investments within the power, energy, utilities and related industries and sectors. Luminus may use certain derivative instruments in the investment strategy may increase leverage, returns, risk and possibilities of rapid gains or losses as well as expose clients to counterparty risk. Investments may be in securities or investments that are considered illiquid or semi-illiquid, or could become illiquid or semi-illiquid in a difficult market environment. The funds utilize leverage to attempt to enhance returns.

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Ninepoint Partners, dba SPR & Co., employs a variety equity investment strategies, including growth, core, and value, as well as blended portfolios. Most of their funds focus on specific ranges on the capitalization scale, from micro-capitalization, through small-capitalization and large-capitalization. Other funds focus on investment opportunities in more than one capitalization category or across all capitalization levels. In addition, SPR manages funds that are global, multi-national, or which focus on particular geographic regions or specific countries.SPR engages in fixed income strategies which invest in debt securities issued by governments and corporations. The debt securities may have varying maturity terms, credit worthiness, interest coupon, currency denomination, and other attributes which may affect the value of the debt securities.The firm engages in buy and hold investment strategies in which they buy securities and hold them for a relatively longer period of time, regardless of short-term factors such as fluctuations in the market or volatility of the stock price.SPR also engages in fundamental value investment strategies that invests in asset-oriented securities they believe are undervalued by the market.SPR offers global macro investment strategies which attempt to anticipate global macroeconomic events using discretionary selection.The firm employs capital growth investment strategies that seek to securities of companies whose earnings the firm expects to grow at an above-average rate compared to the company's specific industry or the overall market.SPR enters into derivatives transactions: (1) as a form of hedging to offset potential changes in securities which are similar to the underlying interest of the derivative, and (2) for profit. The firm engages in short selling strategies: (1) as a form of hedging to offset potential declines in long positions in similar securities, (2) in order to maintain flexibility, and, (3) for profit.SPR also engages in a long credit strategy for certain clients that primarily invests in senior secured asset-based loans.

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Davis-Rea Ltd. Investment Counsel (DRIC) focuses on investments in large-cap equities and investment grade debt instruments. The firm looks for long-term growth opportunities at attractive valuations. They develop forecasts for economic growth, interest rates, commodity prices, sector profitability and expected returns for equities and fixed-income instruments. Asset allocation and sector weigh decisions are based on these forecasts.The firm's equity selection process begins with the screening of over 600 companies for historic and forecast growth profiles. These 600 companies comprise the S&P 500, the S&P/TSX 60, as well as approximately 40 of the most profitable companies in Canada. DRIC further refines this list by performing valuation analyses and considering qualitative characteristics such as management quality, accounting practices and industry dynamics.Their focus list is made up of approximately 75 companies which they use to build custom portfolios for their segregated accounts based on clients' objectives. Portfolios are typically constructed using only a portion of the companies on their focus list.Though not limited by sector, DRIC tends to invest in the stocks of US and Canadian large-cap companies in the finance, energy minerals and industrial services sectors. The firm maintains a high turnover rate.The Davis-Rea Ltd. Balanced Pooled Fund invests in a conservatively-managed portfolio that is diversified across asset classes. The Fund typically holds a mix of stocks, bonds and, occasionally, cash or short-term money-market instruments. Equity investments consist primarily of high-quality companies with a focus on companies with sustainable earnings. Bond investments consist mainly of government securities. The Fund is currently invested exclusively in Canadian securities. The Fund invests in at least 30% and no more than 70% equities. It invests in at least 30% and no more than 70% bonds. The minimum credit rating is A, except for provinces in Canada that are below A. The Fund holds a minimum of 0% and a maximum of 30% short-term investments. No more than 30% of the Fund's assets are invested in foreign securities.

Recent Transactions
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Baytex Energy Corp. purchases Baytex Energy LP

Details Hidden

Baytex Energy Corp. issued Common Shares

Details Hidden

Baytex Energy Corp. issued Common Stock

Transaction Advisors
Legal Advisor

Advised onBaytex Energy Corp. purchases Aurora Oil & Gas Pty Ltd.

Manager

Advised onBaytex Energy Corp. issued Subscription Receipts

Manager

Advised onBaytex Energy Corp. issued Subscription Receipts

Legal Advisor

Advised onBaytex Energy Corp. purchases Aurora Oil & Gas Pty Ltd.

Legal Advisor

Advised onBaytex Energy Corp. issued Subscription Receipts

Manager

Advised onBaytex Energy Corp. issued Subscription Receipts

Advisors & Consultants
Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Key Stats and Financials As of 2017
Market Capitalization
$1.59B
Total Enterprise Value
$2.56B
Earnings Per Share
$0.37
Revenue
$850M
Net Profit
$87.2M
EBITDA
$424M
EBITDAMargin
49.93%
Total Debt
$1.69B
Total Equity
$1.91B
Enterprise Value Sales
3.02x
Enterprise Value EBITDAOperating
6.04x
TEVNet Income
29.39x
Debt TEV
0.66x
Three Year Compounded Annual Growth Rate Of Revenue
-17.8%
Five Year Compounded Annual Growth Rate Of Revenue
-3.68%
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