Baytex Exits the U.S. in $3.25B Deal, Focuses on Higher-Return Canadian Assets

The logo of Baytex Energy Corp. is shown. The Canadian Press/Handout—Baytex Energy Corp.

Baytex Energy Corp. is turning its focus to Canada, announcing plans to divest its position in the Eagle Ford shale formation in Texas—the biggest part of its business—through a $3.25-billion deal.

The assets being sold to an undisclosed buyer represent all of Baytex’s U.S. operations.