Baytex delivered full-year Canadian production of 65,528 boe/d (89% oil and NGL), up 6% over 2024, with fourth-quarter output averaging 67,295 boe/d. The company generated C$1.5 billion of adjusted funds flow, C$274.9 million of free cash flow, and reported a net loss of C$603.8 million due to non-cash charges related to asset divestiture and impairment.

In December 2025, Baytex sold its U.S. Eagle Ford assets for net proceeds of C$3.0 billion, transitioning to a high-return Canadian oil producer. The sale bolstered the balance sheet, leaving the company with C$857 million in cash and a negative net debt position of C$765.8 million, and supports a sustaining breakeven of US$52 per barrel WTI.

Baytex reinitiated a share buyback program on December 24, 2025, repurchasing 30 million shares (3.9% of outstanding) for C$141 million to enhance shareholder value. The company declared total 2025 dividends of C$0.09 per share and announced a quarterly cash dividend of C$0.0225 per share payable April 1, 2026.

President and COO Chad Lundberg will succeed CEO Eric Greager following the AGM on May 7, 2026. Lundberg, who joined Baytex in 2018, will be nominated for election as a director and is expected to build on operational momentum across Pembina Duvernay and heavy oil fairways.