Baytex Energy Corp. (TSE:BTE) has released an update.
Baytex Energy Corp. has reported a robust financial and operational performance for 2023, with a significant 16% increase in production per share and exceeding production guidance in the fourth quarter. The company also enhanced shareholder returns, allocating 50% of free cash flow to shareholder returns and increasing its share buyback program alongside introducing a quarterly dividend. Additionally, Baytex strengthened its reserves, achieving a notable expansion across proved developed producing, proved, and proved plus probable reserves.
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