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).

TSX:PEY - Post by User

Peyto Exploration & Development Corp > NG NEWS

<< Previous

Bullboard Posts

Next >>

Comment by Quintessential1on Feb 11, 2023 9:18am

118 Views

Post# 35281295

RE:RE:NG NEWS

It might be a self correcting problem as US NG rig counts are down 5% this week.

"US Natural Gas Rig Count is at a current level of 150.00, down from 158.00 last week and up from 116.00 one year ago. This is a change of -5.06% from last week and 29.31% from one year ago."

https://ycharts.com/indicators/us_gas_rotary_rigs#:~:text=US%20Natural%20Gas%20Rig%20Count%20is%20at%20a%20current%20level,29.31%25%20from%20one%20year%20ago.

GLTA

houbahop wrote: $4.90??? How about $3.00?

https://www.naturalgasintel.com/eia-slashes-2023-henry-hub-forecast-as-supply-growth-seen-outpacing-demand/?v=DG_PopPosts

The “significantly warmer-than-normal” weather in January depressed space heating demand and padded storage inventories, EIA said in its latest Short-Term Energy Outlook (STEO), published Tuesday.

The latest STEO modeled an average Henry Hub spot price of $3.40/MMBtu for 2023, reflecting a steep 30% decline versus agency projections only a month ago. Prices should remain below the $4 mark until December, researchers said.

What’s more, recent futures trading implies that, if anything, EIA’s forecast might be too optimistic. The March Nymex contract was hovering near $2.50 as midday Tuesday, off nearly $1 versus EIA’s projected 2023 average.