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

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Post by wreckhouseon Jan 16, 2024 2:36pm

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Post# 35829670

NG NEWS

Peyto Exploration & Development Corp. (PEY-T, “sector outperform”) to $20 from $23. Average: $16.07.

Analysts: “Revitalized business model and longer runway following the Repsol acquisition. Strong hedge book and low cost structure protects the free cash flow and dividend proposition in a weak natural gas price environment. Room for the multiple to rerate upward if PEY can deliver the guided results from the new assets.”

Peyto got a good team and they will deliver! BCRNW

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