Baytex Energy Corp (Baytex) is an upstream energy company that acquires, develops and produces petroleum and natural gas. The company’s portfolio of products comprises heavy oil, bitumen, light oil, natural gas, shale gas and natural gas liquids (NGL’s) It operates assets in the Western Canadian Sedimentary basin. Its key assets are located in Western Canada, specifically in the provinces of Alberta and Saskatchewan In FY2025, the company repositioned its portfolio into a focused Canadian oil producer. The company's principal properties include Peace River in Alberta, where it produces heavy gravity crude oil and natural gas from the Bluesky and Spirit River formations. Production methods include primary and polymer flooding recovery. Lloydminster, spanning Alberta and Saskatchewan, where Baytex targets multiple Manville formations for heavy crude oil production using multi-lateral horizontal drilling and circulation string horizontal drilling. Some reservoirs are water flooded, and polymer flooded. Duvernay in Alberta, where Baytex holds a 100% working interest in the Pembina-Gilby area, producing tight oil and NGL through hydraulic fracturing of horizontal wells. Viking in Alberta and Saskatchewan, producing light oil from the Viking formation through hydraulic fracturing of horizontal wells, with some reservoirs under waterflood. In FY2025, the company’s capital expenditure stood at CAD1240.4 million.