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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 SecondhandGnuson Aug 11, 2022 7:23pm
185 Views
Post# 34890049

RE:Reason the market hates it

RE:Reason the market hates it

So far as I know the company has never directly addressed their flexibility or lack thereof due to high debt levels.  Perhaps they are not allowed to add $299MM of debt to get rid of these hedges, but ever if they could it isn't in their corporate DNA.

Unfortunately Q3 will mirror Q2 (essentially the same hedges other than a bit less on the oil side), but FFO should go up significantly in Q4 (early estimate +40MM/quarter, only rising from there). In 7 months Peyto turns from a pumpkin back into a fancy carriage, but they won't be on the bluebird list from now until then.

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