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Baytex Energy Management Presents At Barclays CEO Energy/Power Conference (Transcript)

Baytex Energy Corporation. (BTE)

Barclays CEO Energy/Power Conference

September 6, 2012 09:30 AM ET

Executives

Derek Aylesworth – CFO

Analysts

Grant Hofer – Barclays Capital

Presentation

Grant Hofer – Barclays Capital

Okay, I think we’re going to get started. For those of you who don’t know me, my name is Grant Hofer. I am the midcap E&P Analyst here at Barclays. Very pleased to welcome Baytex Energy today. We have Derek Aylesworth who is the Chief Financial Officer. Derek has been with Baytex since 2005 when he joined as CFO. Prior to that he was with EnCana and I’ll pass it on to Derek.

Derek Aylesworth

Thanks Grant and thank you Barclays for having us. For those of you who were in the room before, ENI [ph] is quite a different company than we are. Earlier in my career I did work with ENI and it’s nice to see that they’re doing all right without me.

If you take a moment please do review our advisory on the forward looking statements. This slide just highlights the investment thesis behind Baytex. What we strive to do is execute what we call a growth and income model where we’re trying to deliver organic production reserve and dividend growth. We have a second lead in capital efficiency and that’s one of the key differentiators for our story. I'm going to go through the history of Baytex and some of our key projects and show you why we’re going to be able to maintain that a second-leading capital efficiency. We are very technically focused. We have a very, very large inventory of identified captured projects that we’re going to be able to exploit for the foreseeable future and with the strength of our balance sheet we have absolutely no financial constraint to executing our growth plans.

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