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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

Post by goldenriviton May 11, 2023 10:04am
140 Views
Post# 35442930

Record hot summer cooling season thanks to El nino

Record hot summer cooling season thanks to El ninoVery nice debt reduction combined with 11% div going into a record hot cooling season for North America as global warming effect hits 2023/24.On top of that the US/CAN rig count is dropping as NG is trading at $2 when the everage production cost is $3  is setting up for a NG shortage by fall.On top of that bank credit for drillers is getting tight because of the US bankning crisis.All of this spells major NG shortage 6 to 8 months from now.BUY PEY collect the div and wait for the NG shortage to send NG prices back to $10.
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