Company has sold off some assets and is looking to get its debt levels back to manageable. Also makes them pretty much a pure-play Canadian company. It is heavily exposed to WTI prices.
Because they sold off these assets, they got some credit downgrades due to the business being less diversified.
Overall, 6 month outlook for an oil producer is very hard to predict. These companies are so heavily tied to the underlying commodity that you can basically ask yourself "is oil up today? Well, Baytex probably is too".
I tend to stick to major producers in the oil and gas industry. These smaller ones are often poorly managed. Baytex has nearly tripled its share count since 2018. Debt is getting back to manageable levels but still high.
Not my cup of tea, but I do know some energy enthusiasts that like it.