Baytex Energy was founded in 1993 and is headquartered in Calgary, Alberta, Canada. Over time it has grown through acquisitions and expansion, particularly in Canada, and later extended operations into the United States.
Baytex’s business is focused on the acquisition, development, and production of crude oil, natural gas, and natural gas liquids. Its asset base includes properties in the Western Canadian Sedimentary Basin (notably in Alberta and Saskatchewan), where it holds heavy oil and light/medium oil assets, and in the Eagle Ford Shale in Texas, USA. Through recent deals, Baytex has also added acreage in the Viking light oil play and the Duvernay shale in Alberta.
A distinguishing feature of Baytex is its blend of heavy oil and liquids-rich assets, combined with a U.S. presence via Eagle Ford that gives it exposure outside Canada. In 2023, Baytex completed its acquisition of Ranger Oil, further bolstering its U.S. operations. In later years, it has also undertaken asset rationalizations — for example, divesting its Kerrobert thermal asset in Saskatchewan in 2024.