Baytex Appoints Chad Lundberg as President and COO Effective December 2025
Baytex announces the appointment of Chad Lundberg as President and Chief Operating Officer, effective December 22, 2025. Lundberg joined Baytex in 2018 and has served as Chief Operating Officer since July 2021, playing a key role in the successful development and expansion of the Company's Canadian oil and gas portfolio. Additionally, Tiffany Thom Cepak and Angela Lekatsas have informed the Board of Directors of their intention to step down as directors effective January 1, 2026. Following these departures, the Board of Directors will be comprised of 8 members, 7 of whom are independent.
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Baytex Energy announces new COO and shares future outlook
2026 Capital Budget Announcement: Baytex Energy announced a capital budget of $550 to $625 million for 2026, aiming for an average production of 67,000 to 69,000 boe/d and targeting 3% to 5% production growth while focusing on shareholder returns.
Leadership Change: The company appointed Chad Lundberg as the new President and COO, signaling a shift in leadership to support its strategic goals.
Credit Facility Update: Baytex updated its credit facility to $750 million, extending the maturity to 2030, which enhances its financial stability.
Stock Performance: Following these announcements, Baytex's stock price increased by 1.9% during pre-market trading on Monday.
Should You Consider Baytex as a Buy Following Debt Reduction and Eagle Ford Sale?
Baytex Energy Corp's Asset Sale: Baytex Energy has sold its Eagle Ford assets for $2.3 billion, allowing it to reduce debt significantly and simplify its capital structure, which supports ongoing shareholder returns and a more favorable valuation.
Cash Flow Outlook: Despite improving cash flow strength, Baytex's 2025 free cash flow outlook has been lowered to approximately C$300 million due to weaker oil prices, although reduced interest costs and leaner spending help maintain cash generation.
Drilling Tools International Overview: Drilling Tools International, a Houston-based oilfield services company, specializes in downhole tools and has expanded its portfolio significantly through acquisitions and patented technologies, generating over 90% of its revenue in the Western Hemisphere.
USA Compression Partners' Growth Potential: USA Compression Partners is positioned for growth in key natural gas-producing regions, benefiting from long-term operator relationships and a large compression fleet, with plans for operational improvements through an ERP system upgrade.
