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Peyto Exploration & Development Corp T.PEY

Alternate Symbol(s):  PEYUF

Peyto Exploration & Development Corp. is a Canadian energy company involved in the development and production of natural gas, oil and natural gas liquids in Alberta's deep basin. The Alberta Deep Basin is a geologic setting situated on the northeastern front of the Rocky Mountain belt in the deepest part of the Alberta sedimentary basin. It acquired Repsol Canada Energy Partnership (Repsol Assets), which included around 23,000 barrels of oil equivalent per day of low-decline production and 455,000 net acres of mineral land. The acquisition includes five operated natural gas plants with combined net natural gas processing capacity of around 400 million cubic feet per day, 2,200 kilometers (km) of operated pipelines, and a 12 MW cogeneration power plant. These assets include Edson Gas Plant and the Central Foothills Gas Gathering System. The Company has a total proved plus probable reserves of approximately 7.8 trillion cubic feet equivalent (1.3 billion barrels of oil equivalent).


TSX:PEY - Post by User

Comment by dalerules88on Oct 01, 2019 10:59am
92 Views
Post# 30181924

RE:RE:AECO spot and futures, due to protocol change

RE:RE:AECO spot and futures, due to protocol change

just a point on turning on the spigots..

peyto cash break even is at 90 cents and all-in cost at about 1.90 - most other producers in the region don't come even close to that, despite higher NGL content, and with NGL prices weakening, IMO PEY can put the rigs to work at lower prices than most, certainly in Alta; so if AECO firms up some more, as it has already, then PEY can drill for profit, while most others would still be losing money on dry gas, so I'm guessing if we get AECO at $2+annual avg, I don't see anybody bumping up production, certainly not in the basin; sure, it's survival mode, even at those prices, but I don't think we'll get much volume uptick until AECO averages 2.50, unless conde goes back to last year's levels; with conde at $50usd, even TOU and VII are barely squeezing out a profit, with Henry prices being as low as they are; so again, I think PEY is best positioned, if this trend of lower eastern prices and higher AECO persists, as long as conde stays where it is ...
 

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