RE:i love this company. PEY has done a tremedous job maintaining a floating boat in what has been a terrible macro market for them.
Kudos to them. I am a fan of the team. Just wish they would spend more time talking about what I care about, their drilling portfolio. I understand they may be trying to keep those cards close to their chest as they pick up more land in the Cardium area... I would too if I were getting what they were talking about in Q1 2020:
- Cardium well results in this first quarter continue to provide impressive initial liquid yields of over 100 bbls/mmcf of high value condensate and pentanes.
It's a pity that we cant hear more about their developments in the Cardium. Interestingly there is not a peep about Big Sunny either. Management also commented that they will keep their options open as far as strategic direction with this quote:
- This team will focus on a spectrum of ideas ranging from the establishment of new core areas, either organically or through acquisition, a strengthening of Peyto’s existing core areas through large scale multi-company joint venture aggregation, expansion of direct product sales markets such as additional power generation, and other ideas and projects across the hydrocarbon value chain.
Ultimately tho what matters with PEY is the macro direction of gas and oil. As a number of folks have mentioned on the board, the fundamentals are brewing for a commodity price squeeze. Question is when.
I have also revised my view on COVID19 a bit... More to come on this.