RE:Added 4000Peyto looks good this winter.. but Birchcliff looks even better on a FCF and revenue basis; given PEY already has an embedded premium EV/DACF. Not trying to downplay Peyto's strength because it is a solid gas player with low opex, but take a comparable view on Birch........... PEY's hedges in place vs forward curve will hurt their netbacks.
GLTA