Global investors spent years writing off Canadian energy. Now,
one of the sector's most embattled companies is trying to prove
them wrong.
On this episode of In the Money with Amber Kanwar, Amber sits
down with Chad Lundberg, President & CEO of Baytex
Energy, for his first interview since taking the helm.
After a turbulent few years that saw Baytex expand into the U.S.,
reverse course, and overhaul its strategy, the stock has more
than doubled over the past year. But with plenty of investors
still questioning whether the turnaround is real, Chad explains
why he believes Baytex is entering a new era.
The conversation explores Canada's changing energy landscape,
renewed pipeline momentum, improving investor sentiment toward
the sector, and why Baytex is betting on a Canadian-focused
future. Chad also discusses the company's debt-free balance
sheet, its goal of delivering 15% annual shareholder returns
through dividends, buybacks, and growth, the long-term potential
of projects like Gemini, and why he believes Baytex can create
more value as an independent company rather than becoming an
acquisition target.
Whether you're bullish on Canadian energy or still skeptical,
this conversation offers an inside look at one of the industry's
biggest turnaround stories—and the CEO trying to complete it.
Timestamps
00:00 Trailer
01:15 Intro
02:20 The mood in the energy sector
03:50 Pipelines and increasing production to fill pipelines
05:30 What does the energy sector need to fulfill its full
potential?
07:30 Hamilton Enhanced Mixed Asset Allocation ETF- MIX
09:20 What are foreign investors saying about the Canadian energy
sector?
11:00 Sentiment towards crude oil
14:40 The transformation at Baytex Energy
19:40 Largest shareholder is done selling
20:50 The aspiration of 15% returns over the net 3 years
22:40 Dividends & buybacks
23:40 A culture change
25:20 Asset quality
28:50 Is Baytex a takeover candidate?
30:10 Thank you to our partners at ATB Financial
30:35 M&A in the energy sector
32:30 Would Baytex sell Viking?
33:35 Baytex’s red lines
Sponsors
For over 25 years, Raymond James has been helping Canadians
achieve their financial goals. Visit https://raymondjames.ca
today to discover how you can live a life well planned.
A special thank you to our partners at ATB Financial. For more
information on ATB Cormark Capital Markets visit
https://ATB.com/inthemoney
The mailbag is sponsored by Hamilton ETFs. For more information
on the Hamilton Enhanced Mixed Asset Allocation ETF visit:
https://hamiltonetfs.com/etf/mix/
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