Peyto Exploration & Development Corp T.PEY

Alternate Symbol(s): PEYUF

Energy Oil & Gas E&P

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).

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Peyto Exploration & Development Corp > 5 rigs

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Comment by newcoinon Nov 14, 2022 11:31pm

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Post# 35098725

RE:RE:RE:5 rigs

Mr. Swoosh,
I am new to PEY so not familiar with the mechanics. What exactly do you mean by the company not being engineered to be a beta play for dividends or capital appreciation? Please explain, I really want to know what you're thinking.

MikeySwoosh wrote: I'm not trying to be a wet blanket, but just an FYI...Peyto has only been running four rigs since last week (before the Q3 report). They were operating rig 438 from Ensign as well prior to that.

https://riggertalk.com/drilling_rigs.php

Search for Peyto or the Ensign rig directly.

Anyway, nothing to worry about if the budgeted 2023 exit production of 120K (organic) BOE/day is achieved. Let's just not lose sight of the fact that PEY is not engineered to be a beta play, so temperance is probably the best when it comes to expectations of oversized dividends (despite the most recent announcement) or capital appreciation.