 In June 2018, Baytex announced an offer to buy Raging River Exploration Inc., another Canadian oil and gas firm, for C$2.8 billion.The all-stock deal was poorly received by markets and analysts, with both companys' share prices falling.On March 18, 2020, Baytex announces a 50% reduction to its 2020 capital budget to $260 to $290 million, from the original $500 to $575 million.