People | Forecast - Production | Capital Markets | Capital Expenditure | Capital Expenditure - 2019
Baytex Aims to Hit High End of Production Guidance; Adds to Board
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Baytex Energy Corp. reported a corporate update and board appointment.
Expects Production to Hit High End of Guidance; Budget Tightened
Baytex is now forecasting average production for 2019 of approximately 97,000 boe/d (83% oil and NGL). This compares to our original guidance range for 2019 of 93,000 to 97,000 boe/d, which was recently tightened to 96,000 to 97,000 boe/d.
The company now anticipates exploration and development expenditures for 2019 of approximately $560 million. This compares to our original guidance range of $550 to $650 million, which was recently tightened to $550 to $600 million.
Board Appointment
The Board of Directors is pleased to announce the appointment of Jennifer Maki as a director of Baytex.
About Maki
Ms. Maki served as Chief Executive Officer of Vale Canada and Executive Director of Vale SA, Base Metals (2014 to 2017) and previously held several other positions with Vale Base Metals, including Chief Financial Officer & Executive Vice-President (2007-2014) and Vice-President & Treasurer, and with Inco Limited as Assistant Controller. Ms. Maki participated actively in managing Vale's Base Metals businesses outside Canada as a member of the Board of Commissioners of PT Vale Indonesia Tbk (2007 to 2017), serving as its President Commissioner (2014 to 2017) and as a director of Vale Nouvelle-Caledonie SAS. She was also Chair of Vale Canada's Pension Committee. Before joining Vale/Inco, she worked at PricewaterhouseCoopers LLP for 10 years in roles of increasing responsibility. She has also been a director of Next Generation Manufacturing Canada (a not-for-profit organization) since September 2018 and is currently a Director of the Franco-Nevada Corporation. Ms. Maki has a Bachelor of Commerce degree from Queen's University and a postgraduate diploma from the Institute of Chartered Accountants, both in Ontario, Canada. She also holds the ICD.D designation from the Institute of Corporate Directors.
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