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Baytex’s 2026 development plan reflects a post–Eagle Ford sale capital program and a sharpened focus on its core Canadian assets. The Company approved 2026 exploration and development expenditures of $550–$625 million (midpoint $587.5 million) to generate 67,000–69,000 boe/d of average annual production (midpoint 68,000 boe/d) and target 3%–5% production growth from 2025 (Canada only). The 2026 production mix is expected to be 89% liquids (82% crude oil, 7% NGLs) and 11% natural gas, with exit production of approximately 70,000 boe/d.
With Eagle Ford proceeds expected to be returned to shareholders and Eagle Ford results to be classified as discontinued operations in the year-end 2025 release, Baytex’s 2026 program emphasizes Canadian development and infrastructure. In the Pembina Duvernay, Baytex plans to bring 12 wells onstream (vs 8 wells in 2025) and allocates ~35% of the 2026 capital program to support full commercialization, including gathering, batteries, and water infrastructure. In heavy oil, Baytex plans to bring 91 wells onstream and directs ~25% of 2026 capital to Lloydminster, largely targeting the Mannville stack in northeast Alberta.
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