Baytex Announces Closing of Offering of Debentures

CALGARY, ALBERTA--(Marketwire - Feb. 17, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announced today the closing of its offering of US$150 million principal amount of 6.75% Series B senior unsecured debentures due February 17, 2021 (the "Debentures"). The Debentures were offered on a private placement basis in Canada with RBC Capital Markets and Credit Suisse as joint book runners. Baytex will use the net proceeds from the offering to repay existing indebtedness under its revolving credit facilities and for general corporate purposes.

This news release is not for dissemination in the United States or to any United States news services. The Debentures have not and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and will not be offered or sold in the United States or to any U.S. person absent registration under the Securities Act and state securities laws or an exemption from registration.

The common shares of Baytex Energy Corp. are traded on the Toronto Stock Exchange and the New York Stock Exchange under the trading symbol BTE.