Baytex posted Q2 net income from continuing operations of CAD 169 million, swinging from a loss in Q1.
Adjusted funds flow (non-IFRS) fell 31% year over year to CAD 254 million; cash flow from operating activities dropped to CAD 231 million.
Free cash flow (non-IFRS) rose to CAD 128 million; exploration and development expenditures totaled CAD 122 million.
Production climbed 11% year over year to 71,243 boe/d; full-year guidance was raised to about 71,000 boe/d with capital unchanged at about CAD 625 million.
Share repurchases totaled CAD 136 million for 22 million shares; the quarter ended with net cash (non-IFRS) of CAD 566 million.
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