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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 Apr 10, 2024 7:25pm
133 Views
Post# 35982361

RE:RE:RE:Peyto taking a page from Birchcliff...........

RE:RE:RE:Peyto taking a page from Birchcliff...........I also was in the Peyto plane when the pilot made us live a near death experience.
Mister Don Gray went through a similar experience last year at the AGM.

Hopefully, these are a thing of the past.

When a majority of your shareholders ask for some simple adjustments to your priorities, you better listen rather than keep your head in the sand. With current dividends that you can't reduce without negative consequences, capex $$$ must be managed according to commodity price.

JP gave an opening to reduce capex if Natgas prices remain low. A much better strategy than focusing in production growth at all cost. For the time being as long as a strong contango remains on the futures curve, they can sell at interesting prices and keep drilling.

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