Baytex Energy Corp. (NYSE: BTE, TSX: BTE) was established in 1993, formerly known as Baytex Energy Trust (Baytex Energy Trust), changed to its current name in 2011, and headquartered in Calgary, Canada, is an independent oil and gas company , Engaged in the collection, development, exploitation and production of oil and natural gas in the Western Canadian Sedimentary Basin and the United States.
Baytex Energy Corp. (BTE):
Baytex Energy Corp. is engaged in the acquisition, development and production of crude oil and natural gas assets in the Western Canada Sedimentary Basin and the Eagle Ford region of the United States. Approximately 78% of its production is crude oil and natural gas liquids. Heavy oil accounts for 67% of the company’s production and 70% of its reserves.
Baytex Energy Corp. used to be a trust. In January 2011, he changed into a company because the government changed its tax incentives.
Baytex Energy Corp. (BTE) History:
- In 1993, Baytex Energy Trust was established;
- On January 19, 2006, Baytex Energy Trust submitted its IPO prospectus and listed on the New York Stock Exchange on March 27, 2006;
- In April 2008, Baytex Energy Trust acquired Burmis Energy Inc for US$181 million;
- In the summer of 2009, Baytex Energy Trust acquired True Energy Trust for USD 79.9 million;
- In October 2010, Baytex sold 50% of Kerrobert’s heavy oil assets to Petrobank Energy and Resources (TSX:PBG);
- On January 3, 2011, Baytex began trading on NYSE with Baytex Energy Corp.;
- In February 2011, reached an agreement with a private company for US$156.5 million to acquire Saskatchewan’s heavy oil assets;
- In June 2014, Baytex acquired Aurora Oil & Gas Limited.