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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

Comment by sportstermathewon Apr 19, 2022 7:44am
185 Views
Post# 34612442

RE:RE:RE:RE:RE:Miniscule changes to hedgebook March to April

RE:RE:RE:RE:RE:Miniscule changes to hedgebook March to AprilThat 60% will eventually rise in all likelyhood as they keep placing hedges along the curve.

How many here would not mind $7.50US or abouts for most of what Peyto is currently producing?  Regardless of where prices may go upwards further $7.50 is great as far as I am concerned.

We all know even with five rigs, 60% hedged is way above the CAPEX used by these five rigs for 2022 so it is not an issue there.  Maybe it is also about the debt they still have on the books?  Or maybe it is just how they feel knowing that sales are locked in and more stable projections can be made.

Here we are right in the mix of prime earnings reports going to start coming out, and NG is down 24c with interest rate hikes on the horizon.

Even though the ride will be bumpy, I have no doubt we will see Shenty's $27 in the next 12 months or so, give or take a quarter.

Debt is going to come down firmly to start, and then more rapidly depending upon pricing.

On top of this I see another dividend hike, not a ton, 2 to 3 cents more per month maybe just to get yields back up around 5%?

I also have plans so need better prices going forward.
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