Nov. 12 at 3:32 PM
Shares of Baytex Energy Corp. rose Wednesday after the company announced the sale of its U.S. Eagle Ford assets for US
$2.305 billion (approximately C
$3.25 billion) in cash.
The transaction, expected to close in late 2025 or early 2026, will transform Baytex into a focused Canadian energy producer with a net cash position. The company plans to use the proceeds to repay outstanding credit facilities and 2030 senior notes, while returning a significant portion to shareholders.
“This transaction positions Baytex as a focused, high-performing Canadian energy producer,” said President and CEO Eric T. Greager. “Monetizing our U.S. Eagle Ford assets strengthens our balance sheet, supports capital allocation toward higher-return opportunities, and positions us to deliver meaningful shareholder returns.”
$BTE