Baytex Vitality reported a third-quarter revenue of $32.7 million and stated it expects to generate document money circulation for the yr due to surging commodity costs.
The Calgary-based oil and gasoline firm says it earned 35 cents per diluted share within the three months ended Sept. 30, up from a web lack of $23 million or 4 cents per share in the identical interval a yr in the past.
Manufacturing in the course of the third quarter averaged 79,872 barrels of oil equal per day, in contrast with 81,162 boe/d within the second quarter of 2021.
Baytex says it generated free money circulation of $101 million within the quarter which brings the corporate’s year-to-date free money circulation to $284 million.
Baytex says it has directed 100 per cent of its free money circulation this yr to scale back its web debt, which now sits at $1.56 billion, down from $1.85 billion initially of the yr.
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The corporate says at present commodity costs, it now expects to generate document ranges of free money circulation for the yr in extra of $400 million.
© 2021 The Canadian Press
