Wired News – Baytex Energy to Merge with Raging River Exploration

LONDON, UK / ACCESSWIRE / June 20, 2018 / If you want access to our free research report on Baytex Energy Corp. (NYSE: BTE) ("Baytex"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BTE as the Company's latest news hit the wire. On June 18, 2018, the Company announced that it has signed a deal to merge with Raging River Exploration Inc. ("Raging River"), for approximately C$2.8 billion. The expansion will help the Company to expand its footprint in the oil-rich Duvernay field in Alberta. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Baytex Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Deal Details

• The combined organization, which will operate under the Baytex name, will have an enterprise value of approximately C$5 billion.

• The transaction is expected to close in August 2018.

• The combined Company will have an annual production of 100,000 to 105,000 barrels of oil equivalent per day (Boe/d) and plans a capital expenditure between C$750 million and C$850 million for 2019.

• As per the agreement, Raging River's shareholders will receive 1.36 common shares of Baytex for each Raging River share owned.

• The Boards of Directors of both Companies unanimously approved the transaction, but it remains subject to approval by the shareholders, the Court of Queen's Bench of Alberta, and certain regulatory and other authorities.

Management Team

Neil Roszell, Executive Chairman and Chief Executive Officer (CEO) of Raging River, will serve as Chairman; and Edward LaFehr, President and CEO of Baytex, will serve as President and CEO of the combined Company. Bruce Beynon, the current President of Raging River, will join Baytex as Executive Vice President with responsibility for Exploration, Land, and Corporate Development. Jason Jaskela, the current Chief Operating Officer (COO) of Raging River, will join Baytex as Vice President of the East Duvernay Shale oil play, reporting directly to the CEO. The Board of Directors of the combined Company will consist of six members of the Baytex Board and four members of the Raging River Board.

Combination Creates a Well-Capitalized Oil Producer that has the Ability to Materially Advance Raging River's East Duvernay Shale Light Oil Opportunity

Neil Roszell stated that this combination creates a diversified, well-capitalized oil producer that has an impressive suite of high quality producing assets and the ability to materially advance Raging River's East Duvernay Shale light oil opportunity, while continuing to develop the Company's Eagle Ford, Viking, Peace River, and Lloydminster core assets. Roszell added that the combination provides a substantial value proposition for all shareholders of Raging River and Baytex, incremental to what each Company could deliver on its own.

About Raging River Exploration Inc.

Based in Calgary, Canada, Raging River is a junior oil and gas producer currently focused in the Kindersley area of Saskatchewan. The experienced management of Raging River has had a successful track record of building four previously successful oil and gas production Companies, including Wild Stream Exploration and Wild River Resources, which were both sold to Crescent Point Energy Corp.

About Baytex Energy Corp.

Founded in 1993 and headquartered in Calgary, Alberta, Baytex is a dividend-paying oil and gas corporation. The Company is engaged in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Williston Basin in the United States.

Stock Performance Snapshot

June 19, 2018 - At Tuesday's closing bell, Baytex Energy's stock dropped 2.35%, ending the trading session at $3.32.

Volume traded for the day: 4.61 million shares, which was above the 3-month average volume of 2.59 million shares.

Stock performance in the last three-month – up 20.29%; previous six-month period – up 19.42%; past twelve-month period – up 32.80%; and year-to-date - up 10.67%

After yesterday's close, Baytex Energy's market cap was at $784.57 million.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.

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