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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 PabloLafortuneon Aug 24, 2023 11:31am
133 Views
Post# 35603798

EIA Natural Gas storage report just out

EIA Natural Gas storage report just out(7:30am PST every Thursday). Increased 18 vs 49 a year ago. Bullish. 

Celsius underestimated the increase last week and overestimated this week. Timing issue?

November HH now $3.12 (hit a low of $2.98 before the report came out). 

Key date for me is the 11/16 eff (reported 11/22) which is when 2022 and 5 year average intersect @3644 B's of storage. Requires 2022 increase to average a little under 7 B's per day for the next 84 days. On that note, the next 21 days (5 of which have already passed) looks bullish per Celsius.

This is before the impact of any accumulated undrilled/uncompleted wells from reduced (natural gas) rig count on production. Which has been rumored to happen for months now but hasn't at all.

Main problem is the huge increase in Permian associated gas as natural gas cut (%) went up.

This is where Peyto's astute hedging comes in handy for shareholders.

Good luck to all.
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