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.

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In The News
The Globe and Mail (Canada)
April 12, 2019
Markets summary
The Globe and Mail (Canada)
April 11, 2019
Markets summary
Executives & Employees

President & Chief Executive Officer

Executive Vice President & Chief Financial Officer

Executive Vice President & Chief Operating Officer

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

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

Former Minister of Seniors & Community Supports at Province of Alberta

President & Chief Executive Officer at Baytex Energy Corp.

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

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

Managing Partner at Burnet, Duckworth & Palmer LLP

President at Kyklopes Capital Management Ltd.

Deputy Managing Partner at ACM Ltd.

Non-Executive Director & Managing Director at Riversdale Resources 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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Qwest Investment Fund Management specializes in identifying and structuring investment products in the natural resources sector. Their products include flow-through funds, a mutual fund and a specialty fund.Qwest structures, markets and manages tax-effective flow-through products. The firm focuses on investing in flow-through shares issued by Canadian resource companies including oil and gas and mining growth companies. They target companies with: (1) experienced management teams (2) focused assets and production growth opportunities (3) qualified land and operational teams (4) a risk management strategy and management teams with capital markets and financial expertise.Qwest launched their mutual fund to accommodate the rollover of Qwest's various flow-through offerings to a mutual fund. When they launched QE Funds Corp., a mutual fund corporation, it offered Series A shares of the corporation, the Qwest Energy Canadian Resource Class shares. QE Funds Corp. offers Series A shares of the Qwest Energy Canadian Resource Class and may acquire assets of limited partnerships on a tax-deferred basis that have an adjusted cost base that is less than the amount paid for these assets. The mutual fund invests primarily in the energy and resource sector including companies engaged in industries such as oil and gas, mining and minerals, forestry, alternative energy and other resources. Shares of the mutual fund are only available to the rollover of past and future QIM flow-through limited partnerships and their limited partners who roll over into the mutual fund.The Qwest Energy Canadian Specialty Energy Fund is suitable for Canadian accredited investors with a continuous offering of Series A and F Units on a private placement basis. The fund focuses on investments in the energy sector. The fund acquires and manages equity investments and convertible debt securities in publicly-traded companies and private companies (up to 30%). This may include companies with a focus on: (1) conventional oil and gas exploration and development (2) the oil sands (3) unconventional resources (4) oil and gas service companies (5) transportation and infrastructure and (6) alternative energy.

Recent Transactions
Details Hidden

Baytex Energy Corp. purchases Baytex Energy LP

Details Hidden

Baytex Energy Corp. issued CAD Common Shares - Bought Deal

Details Hidden

Baytex Energy Corp. issued Common Stock

Transaction Advisors
Underwriter

Advised onBaytex Energy Corp. issued Subscription Receipts

Underwriter

Advised onBaytex Energy Corp. issued Subscription Receipts

Underwriter

Advised onBaytex Energy Corp. issued Subscription Receipts

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

Advisors & Consultants
Legal Advisor

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

Key Stats and Financials As of 2018
Market Capitalization
$1.28B
Total Enterprise Value
$2.87B
Earnings Per Share
$-0.93
Revenue
$1.12B
Net Profit
$-325M
EBITDA
$611M
EBITDAMargin
54.77%
Total Debt
$2.1B
Total Equity
$3.06B
Enterprise Value Sales
2.58x
Enterprise Value EBITDAOperating
4.7x
TEVNet Income
-8.83x
Debt TEV
0.73x
Three Year Compounded Annual Growth Rate Of Revenue
7.87%
Five Year Compounded Annual Growth Rate Of Revenue
-0.01%
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Gibson Energy, Inc. engages in the movement, storage, blending, processing, marketing, and distribution of crude oil, condensate, natural gas liquids, water, oilfield waste, and refined products. It operates through the following segments: Infrastructure, Wholesale, Logistics, and Other. The Infrastructure segment includes midstream infrastructure assets comprising of oil terminals, rail loading and unloading facilities, injection stations, gathering pipelines, and processing. The Wholesale segment includes the purchasing, selling, storing, and optimizing of hydrocarbon products, including road asphalt, roofing flux, frac oils, light and heavy straight run distillates, combined vacuum gas oil, and an oil based mud product. The Logistics segment provides trucking services in the Permian and SCOOP/STACK basins in the U.S. The Other segment delivers other services to the oil and gas industry such as exploration support and accommodation services. The company was founded in 1950 and is headquartered in Calgary, Canada.

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