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Highlights
- Baytex Energy’s 3Q2024 net revenues decreased by 7.8% YoY to CAD 850.8 million
- Earnings before income taxes rose by 22.0%, reaching CAD 215.0 million in 3Q2024
- Net earnings jumped 45.4% YoY to CAD 185.2 million in 3Q2024
- The company sold its Kerrobert thermal asset for CAD 42 million in December 2024
Baytex Energy Corp. (TSX:BTE) is an oil and gas producer with operations in both Canada and the United States. BTE generates most of its revenue from Canada.
In the third quarter of 2024 (3Q2024), the company reported net revenues of CAD 850.8 million, a 7.8% YoY decrease from CAD 922.9 million in Q32023, mainly due to lower average realization prices. Total expenses also fell by 14.9% YoY, reaching CAD 635.7 million in the reported quarter compared to CAD 746.7 million in the prior year.
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