Peyto Exploration & Development Corp T.PEY

Alternate Symbol(s): PEYUF

Energy Oil & Gas E&P

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).

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Peyto Exploration & Development Corp

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Comment by clamlinguineon Nov 28, 2019 8:43pm

111 Views

Post# 30404125

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Peyto has been a good inverse trade to Aeco

Destroying the O&G industry with loony legislation is a subsidy now. Trudeau set a stage where Kinder was forced to sell to him. The pipeline is a licence to print money. Good old South American style appropriation.

Lower royaltys are a subsidy? Why should there be royalty's at all?

Yasch22 wrote: TerribleEng: well said.

The main reason I used the CER quote about electricity generated from fossil fuels was simply to focus on the high amount still generated from coal. I was newly surprised by how high it is.

On the TMX purchase as a subsidy, it remains a fact that despite its origin with industry, and despite any consideration of the regulatory system, or of the effective, concerted decades-long effort to by American activists, Kinder Morgan gave up on TMX. The only way to keep the flame lit was with government action. The beneficiaries of that action are oil producers.

On the other hand, I sometimes wonder if the poker players running KM saw an opportunity to soak Trudeau and Morneau for the $5b, knowing full well how much political capital they'd already thrown into the pot. In that case you could say KM got a kind of subsidy. $5b for the removal of one of their biggest headaches.

Fwiw, I believe Trudeau acted on principle in this case. He knew exactly what support for the pipeline could mean for his re-election chances. It was a core issue for those who opposed it (NDP, Green, environmentalists of all political stripes), but only a secondary issue for supporters outside of the Prairies.