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CS - Baytex beats 2019 production guidance with $552MM capex - January 2020
Baytex Energy Corp. ended the year with average production of 97,680 boe/d, beating its guidance of 96,000-97,000 boe/d, and also stayed at the low end of its $550-600 million capex guidance with total spending of $552 million. The company’s strong production and capital efficiencies helped it generate $329 million of free cash flow and reduce net debt 17%, or $394 million, to $1.87 billion. Q4 production was slightly lower than the average at 96,360......
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