Dec 10 (Reuters) - Baytex Energy Corp BTE.TO :
* Announces 2016 budget and amendments to bank credit facilities
* Says board of directors has approved a 2016 capital budget of $325 to $400
million
* For the full-year, approximately 80% to 90% of planned capital expenditures
will be directed to our Eagle Ford operations
* Says has 2016 capital budget is designed to generate average annual
production of 74,000 to 78,000 boe/d
* In the Eagle Ford, expect to have four to six rigs running throughout the
year
* 2016 capital budget of $325 to $400 million is designed to generate average
annual production of 74,000 to 78,000 boe/d
* Says chosen to reduce our Canadian facility by $200 million to $800 million
* In 2016, are targeting capital expenditures to approximate funds from
operations in order to minimize additional bank borrowings
* Says $200 million U.S. facility remains unchanged
* Based on mid-point of 2016 production guidance range of 76,000 boe/d, about
53% of production expected to be generated in Eagle Ford
* In addition to revolving credit facilities, co has long-term debt of about
$1.6 billion with no material repayments required until 2021
* Source text for Eikon
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