Baytex Announces Sale of Kerrobert Thermal Asset
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Baytex Energy Corp. has completed the sale of its Kerrobert thermal asset in Saskatchewan for $42 million. The asset produced 2,000 barrels per day of heavy oil.
December 20, 2024 | 7:15 pm
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Baytex Energy Corp. has sold its Kerrobert thermal asset for $42 million, reducing its production by 2,000 barrels per day of heavy oil.
The sale of the Kerrobert asset for $42 million provides Baytex with immediate cash but reduces its production capacity by 2,000 bbl/d. This could be neutral in the short term as the cash inflow balances the production loss.
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