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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

Comment by GregC24on Feb 03, 2024 9:30pm
236 Views
Post# 35861568

RE:RE:Peyto Monthly Report Feb is out, link below

RE:RE:Peyto Monthly Report Feb is out, link below

Uh what?   They said that production costs would be higher a while back. This is known.  And isn't what the report is saying at all. The title of the report is literally "living up to expectations" as what they expected to happen is happening. 

"Production from the new wells is a reminder of why we coveted these lands for so long. Figure 2 shows that on average, the new wells are performing approximately 30% better than our legacy asset wells."

"We are pleased to see that the early drilling results are living up to expectations and as we move through 2024, Peyto plans to deploy at least 50% of our well capital on the new lands."


 

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