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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

Post by shenty46on Feb 14, 2021 2:56pm
214 Views
Post# 32565314

Huge 51 bcf

Huge 51 bcfHuge 51 bcf withdrawal today. 5 year average is just 17 bcf, and this week withdrawal is expected of around 325 bcf, within a month this market should be in a big deficit,  after few quarters the impact of earlier dismal hedges will be gone,  Peyto seems the only company which is going for growth increasing production to 100000 boed from 80000. I expect ng prices to be averaging atleast 3.5 dollars. Cascade power would be in operation in next few years, ngtl expansion is on track to be completed by April 2022, and may be around 30 percent of additional capacity for storage available by this year end. Am  targeting a price of $ 10 by June, $15- 20 by April 22, $ 25-30 by April 2023, and dollar 50 by 2023 end, and reinstatement of normal dividend by January 2022. Holdings 50000 shares for next 3-4 years
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