About Baytex Energy

Baytex Energy Corp. acquires, develops, and produces crude oil and natural gas in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States. Principal Properties Eagle Ford – Texas The company’s Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The company’s assets include non-operated working interests in approximately 78,212 (19,931 net) acres, consisted of four areas of mutual interest (Sugarloaf, Longhorn, Ipanema and Excelsior) with an average working interest of approximately 25%, together with field infrastructure and related assets. The company’s entire acreage position in the Eagle Ford is held by production and the assets are operated by an operating subsidiary of Marathon Oil Corporation, pursuant to the terms of industry-standard joint operating agreements, joint venture agreements with non-AMI working interest holders where wells produce from AMI and non-AMI lands, as well as negotiated agreements with Marathon and other working interest owners related to facilities, marketing and supplemental development. Production in the area occurs from the hydraulic fracturing of horizontal wells. Viking - Alberta and Saskatchewan The company’s Viking assets are located in the greater Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. These assets were acquired through a business combination with Raging River Exploration Inc. in 2018 and produce light oil from the Viking formation. Production in the area occurs primarily from the hydraulic fracturing of horizontal wells. Peace River - Alberta In the Peace River area of northwest Alberta, the company produces heavy gravity crude oil and natural gas from the Bluesky formation and heavy gravity crude oil from the Spirit River (a Clearwater equivalent) formation. The core of the company’s developing Clearwater play is located on the Peavine Metis settlement. However, a portion of Clearwater prospective acreage overlays its legacy Peace River lands which are productive from the Bluesky formation. Production in the area occurs through primary and polymer flooding recovery methods. Lloydminster - Alberta and Saskatchewan The company’s Lloydminster assets consist of several geographically dispersed heavy crude oil operations that include primary and thermal production. In some cases, The company’s heavy crude oil reservoirs are water flooded and polymer flooded. Duvernay - Alberta The company holds a large 100% working interest land position in the emerging East Duvernay resource play in central Alberta. Production in the area occurs from the hydraulic fracturing of horizontal wells. Marketing In Canada, the company markets its oil and natural gas production with attention to maximizing value and counterparty performance. It has a portfolio of sales contracts with a variety of pricing mechanisms, term commitments and customers. For the company’s heavy oil volumes, this includes rail commitments. In the United States, production from its assets is marketed by the operator. History Baytex Energy Corp. was founded in 1993. The company was incorporated in 2018.