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Pieridae Energy Ltd T.PEA

Alternate Symbol(s):  PTOAF

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia (BC). It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its footprint covers over a million gross acres (807,000 net acres) in the Foothills and makes up conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include the southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale, and Burmis. The Company also has a production facility in the Northern Foothills of Alberta and in Northern BC.


TSX:PEA - Post by User

Post by Sogosohubidu201on Nov 09, 2024 2:21pm
102 Views
Post# 36304782

Q3 earning report improvements

Q3 earning report improvements Q3 compared to Q2, revenue including hedge gain was decreased by $3.05 millions, but operating costs were down by $14.5 millions because of shut-in of 9,370 b/d of high cost dry gas production. The net gain by shutting in was $11.45 millions. The shut in made big difference Q3 vs Q2. This resulted in big improvements of Q3 over Q2. With Waterton maintenance turnaround completed in October, almost 100% hedge in current production gas at $3.32 until the middle of 2026, and no more facilities maintenance required for 5-6 years, PEA.TO is in a strong position financially even at weak AECO prices near term. AECO prices will rise big time when LNG Canada delivers full production next year, and 100% sulfur sold at spot prices from January 1, 2026; shareholders of PEA.TO will be rewarded handsomely. Be Patient. Next two years will be big for PEA.TO.
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