Baytex Energy Corp. announce that its Board of Directors has approved a 2014 capital budget of $485 million for exploration and development activities. This capital budget is designed to generate an average production rate of 60,000 to 62,000 boe/d.

Commenting on the 2014 budget, James Bowzer, President and Chief Executive Officer, said: "This budget continues our focus on oil weighted production growth. Based on the mid-point of the production guidance ranges for 2013 and 2014, our 2014 plan reflects a production growth rate of 6% for oil equivalent volumes."

Tags: Baytex Energy Corp.