RE:Peyto technical chartWe are all going to be crying soon, when Peyto goes past $6 and never looks back.
Prices have not only been in a nice profitable range but improving during the early summer stages, heatwave, low inventory, exportation in US and so on.
If prices stay above $2.75 and higher for the rest of the year, for sure into next year up to say at least April 2022, a lot of people are going to be happy.
I know that on one hand Peyto has been building up a fairly substantial land base, 10 plants, pipelines etc which is way more than most smaller firms or even some larger ones that just produce. They do this to reduce costs.
However, at some point not only do I want to see continued drilling growth, consistent unless they they have some fantastic numbers. But I want to see further deals even on a small bases would be nice. And some debt repayment.
That all said if you can drill like crazy, and get very good prices increasing production dramatically why would you pay off low interest debt?
Granted we dont' want to go on another treadmill like we have in the past but there has to be an anser to this question?