Jeremy McCrea's questions to Baytex Energy Corp (BTE) leadership • Q2 2024
Question
Jeremy McCrea from BMO Capital Markets asked about the drivers behind the strong Eagle Ford well results, whether recent operational efficiencies are incorporated into guidance, and if strong Duvernay performance could lead to a capital allocation shift in 2025.
Answer
President and CEO Eric Greager detailed the steady improvement in Eagle Ford crude oil IP30 rates, rising from 700 bbl/d in H2 2023 to over 870 bbl/d in Q2 2024. COO Chad Lundberg attributed the gains to continuous small improvements in areas like geo-steering and stage spacing, driven by machine learning. Regarding 2025, Eric Greager noted it's early but expects to increase capital allocation to the high-quality Duvernay asset over time.