Baytex Energy (BTE) Approves FY16 Capital Budget Up to $400M
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Baytex Announces 2016 Budget and Amendments to Bank Credit Facilities
December 10, 2015 7:30 AM ESTCALGARY, ALBERTA -- (Marketwired) -- 12/10/15 -- Baytex Energy Corp. ("Baytex") (TSX: BTE) (NYSE: BTE) announces that its Board of Directors has approved a 2016 capital budget of $325 to $400 million, which is designed to generate average annual production of 74,000 to 78,000 boe/d. Baytex also announces amendments to the financial covenants contained in its bank credit facilities which will provide the company with increased financial flexibility to the end of 2017.
Commenting on the announcement, James Bowzer, President and Chief Executive Officer, said: "We have structured our 2016 capital budget... More
