Duvernay well outperformance - Co said first Gilby Duvernay pad brought onstream in June exceeded internal expectations, with three wells delivering strong 30-day initial production rates
Heavy oil portfolio strength - Co cited continued strong performance at Peavine and across heavy oil assets, with new wells at Peavine exceeding expectations
Production above guidance - Q2 production of 71,243 boe/d exceeded the high end of annual guidance, prompting a raise in full-year production guidance
Q2 sales and production
Canada oil and gas producer's Q2 petroleum and natural gas sales rose yr/yr, production exceeded guidance
Company reported Q2 net income of C$175 mln and free cash flow of C$128 mln
Baytex repurchased 22 mln shares for C$136 mln and maintained quarterly dividend
Key details and analyst coverage
Metric
Actual
Q2 Petroleum and natural gas sales
C$639.94 mln
Q2 Net Income
C$174.87 mln
Q2 Dividend
C$0.0225
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
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