Heavy Oil was Baytex Energy’s largest segment in fiscal 2025, bringing in $1.26B of $1.68B (75%).
| Segments [axis] | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Light Oil & Condensate | $1.47B | $2.03B | $421.38M | $366.52M | |||
| Heavy Oil | $1.10B | $1.08B | $1.40B | $1.26B | |||
| Natural Gas Sales | — | — | — | — | |||
| Natural Gas | $195.92M | $125.95M | $23.62M | $26.64M | |||
| Ngl | $120.51M | $146.00M | $26.02M | $29.58M | |||
| Total | $2.89B | $3.38B | $1.87B | $1.68B |
Baytex Energy brought in $1.68B from its four segments in fiscal 2025, the year ended December 31, 2025. That was down 10.1% from $1.87B in fiscal 2024. 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 segment, Natural Gas, brought in $26.64M.
Compared with fiscal 2024, Heavy Oil fell 10.1% to $1.26B and Light Oil & Condensate fell 13.0% to $366.52M. From fiscal 2022 to 2025, combined revenue from these segments fell from $2.89B to $1.68B, a compound annual decline of 16.5%. Heavy Oil's share of the total rose from 38.1% to 74.9%.
Baytex Energy (BTE) reports its revenue by segments [axis]. In fiscal 2025, Heavy Oil was its largest segment, 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 segment in fiscal 2025, bringing in $1.26B, or 74.9% of the $1.68B total across its four segments.
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 segments [axis] 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.