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Baytex Energy cutting capital spending, ending dividend payouts to preserve cash

2015-08-21 19:15:41| Energy - Topix.net

Baytex Energy Corp. says it's taking "difficult but necessary steps" to get past current low commodity prices, including a reduced capital program and the suspension of its monthly dividend. The Calgary-based company says it will stop drilling in the Peace River and Lloydminster areas in Western Canada for the rest of this year and also look for further cost reductions in Texas, where it's involved in the Eagle Ford play.

Tags: capital energy cash ending

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