RE:RE:$100 million annual dividendSad they do not prioritize repayment of debt, but i'm not surprised.
Peyto's capital structure will remain vulnerable to higher interest rates and the next cycle of low NatGas prices.
Not long ago, DG said their target was to achieve 100 000 boe/d and have a capex program around $300m/year for the next couple of years. It seems they are acting emotional in this window of opportunity of high commodity prices and falling, once again, into an undisciplined behavior.
High capex program
High dividend
Low debt reimbursement.
Hopefully they won't go as far as increasing debt to pay the dividend.
Besides these, this report is a winner. The first one in years for Peyto.