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 > Free Cash Flows

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Post by houbahopon Mar 07, 2024 3:45am

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Post# 35919724

Free Cash Flows

It will be interesting to see Peyto's forecasted FCF tonight.

Tourmaline published theirs yesterday. $1.19B expected for 2024 vs $1.69B done for 2023.
Basically, using diluted shares of 355m TOU ($63) is trading at 18.8x expected 2024 FCF.

If my spreadsheet is correct, I have assuming for 2024:

- Capex of $440m
- Average production of 128m boe/d
- Current commodities spot and strip price.
- Share count of 196m.

Using my expected $350m FCF for 2024, PEY trading at $14.70 is at 8.2x expected 2024 FCF.

Anyone playing with numbers see this?

TOU - PEY spread has narrowed in the last 3 months. I expect it to narrow further.

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