RE:Despite poisedMost of the other producers have already made money in Q3/Q4 at very lucrative rates. Vermillion gets TTF pricing on their European gas.
Peyto is hedged at very high ratios, and low prices up to this point. It's hard to reward shareholders before you make the bacon. Even the $0.05 divvy a month, before fixing the balance sheet or earning at that rate for even a couple quarters was aggressive. If they had more floating exposure and less hedges under $2-3 over the past two quarters they would have cleared an extra $250MM.
That will change going forward as hedges roll off, it's still money that was never earned or special dividends that never existed.