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Energy Stocks to Watch: Baytex Energy Corp (USA) (NYSE:BTE), Kosmos Energy Ltd (NYSE:KOS)

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By on Energy & Solar

Baytex Energy Corp (USA) (NYSE:BTE) lowered its planned expenditures in an update of its production and capital expenditure guidance for 2014 to incorporate the recently completed acquisition of Aurora Oil & Gas, which expanded the petroleum and natural gas explorer’s asset portfolio into the Eagle Ford in North America.

The company now expects to spend $765 million to $790 million, a reduction of $25 million, to generate an average production rate of 75,000 to 77,000 barrels of oil equivalent per day for 2014.

It continues to expect Q2 production of approximately 60,000 boe/d for capital expenditures of $153 million. But including the Eagle Ford production from the Eagle Ford for the 20 days following closing of the acquisition, its average production for the quarter is estimated at 66,000 boe/d. BTE slipped 0.6% to $45.74 recently, in a 52-week range of $35.30 to $46.46

Kosmos Energy Ltd (NYSE:KOS) said due to strong production from its Jubilee field it expects to record oil revenue of between $325 million and $330 million in Q1 but it also sees higher restructuring costs than expected as well as a loss on its commodity derivatives. KOS was lower 0.6% recently, in the upper half of the 52-week range between $9.71 and $11.60.
The oil and gas exploration and production company said costs would be higher in the quarter due to three crude oil liftings and that its restructuring costs will now be $2.9 million higher than the previously estimated $9 million due to severance and related benefits. Meanwhile, due to an increase in the date Brent crude oil forward curve, it expects to record a loss of between $20 million and $25 million on the commodity derivatives in the quarter.

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