Baytex Energy Corp. (NYSE:BTE) is one of the cheap penny stocks to buy now. On June 27, Baytex Energy announced that it had received strong support from its lending syndicate for the extension of its bank credit facilities.
The company’s $1.1 billion revolving credit facilities have been extended by one year from the earlier anticipated May 2028 to June 2029. Additionally, the revolving credit facilities are not borrowing base facilities, and, therefore, do not require annual or semi-annual reviews.
An oil platform in the sea, illuminated by a sunset, showing the companies power.
This provides Baytex with flexible and stable financial management. Baytex is headquartered in Calgary, Alberta, but its main operating areas are within the Western Canadian Sedimentary Basin and the Eagle Ford in the US.
Baytex Energy Corp. (NYSE:BTE) is an energy company that acquires, develops, and produces crude oil & natural gas.
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Disclosure: None. This article is originally published at Insider Monkey.
