Baytex Reports Third Quarter 2026 Results; Announces Increased 2026 Capital Plan, 2027 Guidance and Accelerated Three-Year Growth Outlook
Baytex reported Q3 2026 production of 71,606 boe/d (89% liquids), up 5% YoY, with record Duvernay output of 12,806 boe/d, up 26% YoY. The quarter generated $332M of adjusted funds flow, $139M of free cash flow and $160M of net income, while the company returned $165M via buybacks and dividends and exited with $522M of net cash. Management raised 2026 capex to ~$665M, guided 2027 production to 76,000-79,000 boe/d on $775-850M of capex, and unveiled a three-year outlook targeting 8-10% annual growth to ~92,000 boe/d by 2029 with a WTI US$50/bbl breakeven in 2027.
Key figures
- Eps
- 0.23
- Revenue
- $605.9 million
- Guidance
- 2026 E&D expenditures raised to ~$665M from ~$625M; 2027 production 76,000-79,000 boe/d (7-11% growth) with $775-850M capex; three-year outlook targets 8-10% annual growth to ~92,000 boe/d in 2029
- Net income
- 160268000
- Q3 buybacks
- $149 million (24 million shares, 3.4% of shares outstanding)
- Free cash flow
- 138506000
- Production boe d
- 71606
- Adjusted funds flow
- 331884000
- Wti benchmark usd bbl
- 85.79
- Duvernay production boe d
- 12806
AI analysis
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