RE:RE:RE:RE:RE:RE:RE:RE:Strength or weakness?There's no NCIB for this year. There was one in 2019 but they didn't use it and didn't bother renewing it. Darren already said on a previous call that his job is not to trade stocks so he's not going to buy back any shares. It's also clear that the debt never was and is not a priority. Filling the underutilized gas plants was the priority to get new unhedged production to ease the pain of the hedging losses. JP likely won't change Peyto's strategy in this regard.
The peers are all basically debt free and ready to double/triple buybacks and Peyto is a couple years behind in that regard. Interest rates are only going to go up so it would be prudent to start tackling that debt pile before the next o&g cycle low.