Institutional Investors to acquire US Eagle Ford assets of Baytex Energy for $2.3bn.

Institutional Investors, agreed to acquire US Eagle Ford assets of Baytex Energy, a Canadian company specializing in light oil, heavy oil, and natural gas, for $2.3bn. "This Transaction positions Baytex as a focused, high-return Canadian energy producer. Consistent with our disciplined approach to portfolio management, we continually review our asset base to maximize long-term value. Monetizing our U.S. Eagle Ford assets strengthens our balance sheet, supports capital allocation to our highest-return opportunities and positions us to deliver meaningful shareholder returns," Eric T. Greager, Baytex Energy President and Chief Executive Officer.