Baytex Energy Corp. has entered into a definitive agreement to sell certain of its Viking assets located at Forgan and Plato in southwest Saskatchewan, effective October 1, 2023, for $153.8 million.
The disposition is expected to close prior to year-end with net proceeds from the sale to be applied against outstanding bank indebtedness. Production from the assets is approximately 4,000 boe/d (100% light and medium crude oil).
Scotiabank acted as financial advisor to Baytex with respect to the transaction.
