Baytex's E&P CAPEX Yields 94% Success Rate in Q4 2007
Baytex Energy Trust reported that capital expenditures for exploration and development activities totaled $34.3 million for the fourth quarter of 2007. During this quarter, Baytex participated in the drilling of 16 (12.2 net) wells, resulting in 11 (9.9 net) oil wells, three (0.3 net) gas wells, one (1.0 net) service well and one (1.0 net) dry hole for a 94% (91.9% net) success rate.
In addition, two wells were drilled by other operators on farm-outs from Baytex, with Baytex retaining overriding royalty interests.
- Baytex to Buy Australia's Aurora Oil & Gas at Big Premium (Feb 07)
- Baytex to Take Stakes in Heavy Oil Assets (Apr 15)
- Baytex Announces Management Appointments (Jan 05)