RE:Peyto Announces Leadership UpdateI disagree totally.
Just look at the presentation PEY does. It has more info, more research, more brain power than most other companies combined in detail and long-term forcast.
Peyto's stock price has done almost similarly to any other out there BNE, ARC, CR, etc. Sure it could be in the $15 range right now but they don't promote themselves like a lot of others.
Yes mistakes were made, too much debt trying to grow in a weakening price environment but add in all the dividends since day one and I think many would be very very happy if they owned this stock since even 2005. Yes it could be $100 a share but you can't have it both ways.
I think PEY is better off in diversification, number of wells, number of rigs, plants, land etc than they have ever been.
Debt is going to be paid down, could be better than expected, could be less than expected but it will be paid down. The longer these prices stay up in these ranges the better it is and will be for their debt.
They did say dividends may rise again, later this year or early next? All depends I suppose on longterm hedging to fix in prices for new wells / production and and pricing moving forward. We can all see how volatile it has been in the last three years. Not one person here forecast those prices. We all knew they could not stay low as they were and we all knew they would not stay at $9 at least until LNG smooths out to determine production, inventory and exports in the U.S.
Congrats to Gee and we hope the new CEO/President Lachance hope I can remember that name down the road. I don't expect major changes immediately. This company is not for sale by any stretch. The inherent value is so much greater.
I do expect production to rise at some point past 110,000 as I think there have been pipeline constraints lately causing this semi pause based on the number of rigs drilling it has to rise I would expect.