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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 houbahopon Dec 16, 2023 5:00am
263 Views
Post# 35788000

Winter weather

Winter weatherTo add to the pain, NOAA is forecasting another week of scorching hot seasonal weather:

https://www.cpc.ncep.noaa.gov/products/predictions/814day/814temp.new.gif

There is a high probabilty gas storage pierces through the 5-year maximum range before the end of the year. With european and asian storages almost topped, North America's production making new highs, there is a potential to have a crisis as seen in the Spring of 2020 in the oil market.

If (and this is a big IF!) a short term situation like this would happen, I am convince the timing would be good to buy some cheap producers to be stored in the long term drawer.

Be there, get prepared.
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