Heavy Oil was Baytex Energy’s largest region in fiscal 2025, bringing in $1.26B of $1.68B (75%).
| Geography | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2025 |
|---|---|---|---|---|---|---|
| Canada | — | $1.73B | — | |||
| Light Oil & Condensate | $693.04M | — | $366.52M | |||
| Heavy Oil | $1.10B | $1.08B | $1.26B | |||
| Natural Gas | $195.92M | $125.95M | $26.64M | |||
| Natural Gas Sales | — | — | — | |||
| Ngl | $120.51M | $146.00M | $29.58M | |||
| Total | $2.11B | $3.08B | $1.68B |
Baytex Energy brought in $1.68B from its four regions in fiscal 2025, the year ended December 31, 2025. Baytex Energy regrouped these regions after fiscal 2023, so the total does not compare directly with that year's $3.08B. Heavy Oil was the largest at $1.26B (74.9%), ahead of Light Oil & Condensate at $366.52M (21.8%) and Ngl at $29.58M (1.8%). The remaining region, Natural Gas, brought in $26.64M.
From fiscal 2022 to 2025, combined revenue from these regions fell from $2.11B to $1.68B, a compound annual decline of 7.3%. Heavy Oil's share of the total rose from 52.2% to 74.9%.
Baytex Energy stopped reporting Canada as a separate region after fiscal 2023, when it brought in $1.73B.
Baytex Energy (BTE) reports its revenue by geography. In fiscal 2025, Heavy Oil was its largest region, bringing in $1.26B (74.9% of the total), followed by Light Oil & Condensate at $366.52M (21.8%).
Heavy Oil was Baytex Energy's largest region in fiscal 2025, bringing in $1.26B, or 74.9% of the $1.68B total across its four regions.
Every figure comes from Baytex Energy's annual financial filings, as reported. Each line keeps the name Baytex Energy gives it, and years follow its fiscal calendar.
Baytex Energy's revenue by geography goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.