Baytex Announces Sale Of Kerrobert Thermal Asset Located In Southwest Saskatchewan, For Net Proceeds Of ~$42M; Updates 2025 Production Guidance From 150,000-154,000 To 148,000-152,000 boe/d

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Baytex Energy Corp. (TSX:BTE) (NYSE:BTE) ("Baytex") today announced that it has closed the sale of its Kerrobert thermal asset located in southwest Saskatchewan, for net proceeds of approximately $42 million. Production from the asset is approximately 2,000 bbl/d (100% heavy oil).

The non-core disposition further streamlines our portfolio and the net proceeds from the sale will be applied against outstanding bank indebtedness.

To reflect the disposition, we have updated our 2025 production guidance to 148,000 to 152,000 boe/d (150,000 to 154,000 boe/d, previously). The disposition is not expected to meaningfully impact our exploration and development expenditures or free cash flow profile for 2025.

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