<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
    <schemaVersion>X0202</schemaVersion>
<headerData>
        <submissionType>SCHEDULE 13G/A</submissionType>
        <previousAccessionNumber>0001596800-26-000006</previousAccessionNumber>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001596800</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>


        </filerInfo>
    </headerData>
    <formData>
        <coverPageHeader>
            <amendmentNo>1</amendmentNo>
            <securitiesClassTitle>COM</securitiesClassTitle>
            <eventDateRequiresFilingThisStatement>06/30/2026</eventDateRequiresFilingThisStatement>
            <issuerInfo>
                <issuerCik>0001279495</issuerCik>
                <issuerName>Baytex Energy Corp.</issuerName>
                <issuerCusips>
                    <issuerCusipNumber>07317Q105</issuerCusipNumber>
                </issuerCusips>
                <issuerPrincipalExecutiveOfficeAddress>
                    <com:street1>2800, 520 3RD AVE SW</com:street1>
                    <com:city>CALGARY</com:city>
                    <com:stateOrCountry>A0</com:stateOrCountry>
                    <com:zipCode>T2P 0R3</com:zipCode>
                </issuerPrincipalExecutiveOfficeAddress>
            </issuerInfo>
            <designateRulesPursuantThisScheduleFiled>
                <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
            </designateRulesPursuantThisScheduleFiled>
        </coverPageHeader>
        <coverPageHeaderReportingPersonDetails>

            <reportingPersonName>Connor, Clark &amp; Lunn Investment Management Ltd.</reportingPersonName>
            <citizenshipOrOrganization>A1</citizenshipOrOrganization>
            <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>41748611.00</soleVotingPower>
                <sharedVotingPower>0</sharedVotingPower>
                <soleDispositivePower>49118251.00</soleDispositivePower>
                <sharedDispositivePower>0</sharedDispositivePower>
            </reportingPersonBeneficiallyOwnedNumberOfShares>
            <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>49118251.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
            <classPercent>6.8</classPercent>
            <typeOfReportingPerson>IA</typeOfReportingPerson>
        </coverPageHeaderReportingPersonDetails>
        <items>
            <item1>
                <issuerName>Baytex Energy Corp.</issuerName>
                <issuerPrincipalExecutiveOfficeAddress>2800, 520 3RD AVE SW, CALGARY, Alberta, Canada, T2P 0R3</issuerPrincipalExecutiveOfficeAddress>
            </item1>
            <item2>
                <filingPersonName>Connor, Clark &amp; Lunn Investment Management Ltd.</filingPersonName>
                <principalBusinessOfficeOrResidenceAddress>800 - 1090 West Pender Street, Vancouver, V6E 0E3, BC, Canada</principalBusinessOfficeOrResidenceAddress>
                <citizenship>BRITISH COLUMBIA, CANADA</citizenship>
            </item2>
            <item3>
                <notApplicableFlag>N</notApplicableFlag>
                <typeOfPersonFiling>IA</typeOfPersonFiling>
            </item3>
            <item4>
                <amountBeneficiallyOwned>49,180,551</amountBeneficiallyOwned>
                <classPercent>6.8</classPercent>
                <numberOfSharesPersonHas>
                    <solePowerOrDirectToVote>41,810,911</solePowerOrDirectToVote>
                    <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
                    <solePowerOrDirectToDispose>49,180,551</solePowerOrDirectToDispose>
                    <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
                </numberOfSharesPersonHas>
            </item4>
            <item5>
                <notApplicableFlag>Y</notApplicableFlag>
                <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
            </item5>
            <item6>
                <notApplicableFlag>Y</notApplicableFlag>
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            <item7>
                <notApplicableFlag>Y</notApplicableFlag>
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            <item8>
                <notApplicableFlag>Y</notApplicableFlag>
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            <item9>
                <notApplicableFlag>Y</notApplicableFlag>
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            <item10>
                <notApplicableFlag>N</notApplicableFlag>
                <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. </certifications>
            </item10>
        </items>
        <signatureInformation>
            <reportingPersonName>Connor, Clark &amp; Lunn Investment Management Ltd.</reportingPersonName>
            <signatureDetails>
                <signature>Derrick Crowe</signature>
                <title>Chief Compliance Officer</title>
                <date>07/30/2026</date>
            </signatureDetails>
        </signatureInformation>
    </formData>
</edgarSubmission>
