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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 houbahopon Feb 07, 2024 3:46am
201 Views
Post# 35866794

RE:Divi in Danger

RE:Divi in DangerYeah, Sukhi, Peyto's 23'Q3 payout was over 100%.

But unlike Birchcliff, the dividend is far far away from being in peril.

Peyto has already sold most of its 2024 and 2025 production at higher price than what it got for its 2023 sales.

23'Q3 FCF was $50m, 23'Q4 and 24'Q1 will be over $100m, so payout will be back under 70%.
Its all written in Peyto's corporate presentation.
The only risk resides in JPL hands. How much capex will Peyto disburse in the current context of low strip pricing. They screwed up in 2017, hope lesson was learned.

On the other side, it is not uncommon to see Market participants throw the baby with the bath water. I'm still looking to add some PEY if it goes to low 10's.

Good luck in your future endeavours.


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