6-K
Three Months Ended March 31 Financial 2003 2002 % Change ($Thousands, Except Per Share Amounts) (Unaudited) Petroleum and Natural Gas Sales 107,047 79,130 35 Cash Flow From Operations 54,707 40,125 36 Per Share - Basic 1.03 0.77 34 - Diluted 1.01 0.76 33 Net Income 32,943 7,304 351 Per Share - Basic 0.62 0.14 343 - Diluted 0.61 0.14 336 Exploration and Development 61,594 39,526 56 Dispositions – Net (134,950 ) (46,363 ) N/a Total Capital Expenditures (73,356 ) (6,837 ) N/a Long-Term Notes 304,145 330,249 (8 ) Bank Loans and Other Debt — 22,179 (100 ) Other Working Capital (Surplus) Deficiency (93,860 ) 31,255 N/a Total Net Debt 210,285 383,683 (45 ) Operating Daily Production Light Oil (Bbls/D) 2,969 3,818 (22 ) Heavy Oil (Bbls/D) 23,278 22,838 2 Total Oil (Bbls/D) 26,247 26,656 (2 ) Natural Gas (Mmcf/D) 74.0 73.7 — Oil Equivalent (Boe/D @ 6:1) 38,580 38,948 (1 ) Average Prices (Before Hedging) Wti Oil (US$/Bbl) 33.86 21.64 56 Edmonton Par Oil ($/Bbl) 50.91 33.51 52 Bte Light Oil ($/Bbl) 45.41 27.58 65 Bte Heavy Oil ($/Bbl) 31.48 21.58 46 Bte Total Oil ($/Bbl) 33.15 22.44 48 Bte Natural Gas ($/McF) 7.02 3.19 120 Bte Oil Equivalent ($/Boe) 36.14 21.39 69 Baytex Energy Ltd. Press Release May 14, 2003
05/15/03
