RE:RE:Earnings report..Most people never heard of Peyto in 1998.
I am not sure the first time Royal Bank followed them, but I purchased some in 2002 when they did a report that was extremely positive, almost a double I think in it.
Kept buying and buying. Did well at the time but the Income TRust debacle really made a mess of things.
Tech was just getting started back then. Have you seen any dry wells lately?
No matter how much you compare them to the best or other companies, there have been many that have fallen, blown up, disappeared or taken over because management did not have their shareholders in mind.
It remains to be seen whether Peyto will stay around #5 in the country or move up the ladder. Larger companies don't see to disappear as much as smaller ones and growing past another company is a long arduous process unless you just get lucky with all the right moves.
I feel the conference calls with JP are a little on the light side, fast and don't allow those with the real questions to come out from under cover to enquire.
They did say some from Repsol are working with Peyto employees but no comment on how many may eventually move over to the Peyto side long term. 5 to 20 maybe? It is now a much larger company and needs heads to keep track of everything and maybe some have good knowledge of the properties etc. that are key to making more money.
I am sure the Repsol employees may have felt a little tired of waiting for Repsol to let them do anything and now the reins are free with Peyto trying to get out of it as much as possible.
It also seems that some of the plants they got or systems, pipes etc may be a little old and a need of $$$ to be usable in the future. But Peyto would only want to work where they are needed at present and then look at the other areas down the road.
I think it was a great deal for Peyto regardless of the gas market or prices of late. They were probably looking at 2025 and later on as the big prize when prices stop being a drag on business all around.
Did anyone hear of any mention of Cascades? They must be getting close to it starting up, any delay into next year would not be positive for Peyto as they are looking forward to better sales.
If Peyto gets to 160,000 boe/d in 2025 or so, they would defintitely be a much larger and stronger company.