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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 Jun 19, 2024 11:33am
249 Views
Post# 36096008

RE:RE:RE:RE:RE:Good Luck to All Longs

RE:RE:RE:RE:RE:Good Luck to All LongsI know to well Peyto's story since I am a shareholder since 2007.

And yes, they took horrible decisions in 2017 and 2018:

- Bad basis deals,
- AECO exposure
- Too aggressive capex program
- Hedging a pile of production under $2.50/GJ
- Financing dividends with debt, etc.

I expect the Board of Directors to have learnt from their mistakes. If I see they have not, I will reduce considerably my position. For the next two years, the volatility of their free cash flows will be mostly explained by the adjusment in their capex program relative to Natgas and NGL prices, more specifically 2027 and 2028 futures prices. Hopefully, they will have the wisdom to use this flexibility to avoid a similar scenario to 2019-2020.

I expect Peyto's payout ration to be 95% of Free Cash Flows in 2024.

I also use technical analysis before entering in position. BCE charts looks quite ugly right now. It is a red flag in my book.

Thank you for sharing...


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