Peyto Exploration & Development Corp T.PEY

Interesting video of Birchcliff CEO Jeff Tonken

[houbahop]

At the other end of the hedge spectrum:

https://www.bnnbloomberg.ca/video/if-commodity-prices-fall-we-ll-cut-capital-spending-before-we-cut-the-dividend-birchcliff-ceo~2612474

If Peyto's BoD would adopt an in between solution concerning their hedging strategy, their shares
would be worth much, much more.

[Quintessential1]

That in-between solution or balanced solution may be the key but harder to find. The CEO or BIR seems very sincere but I am sure most investors watching were saying okay so you cut cap-ex to fund the div and your production starts to drop off then what?   Well I think then you are either back to cutting your div or increasing debt. It will be interesting to see if BIR can ride the

[houbahop]

"I am sure most investors watching were saying okay so you cut cap-ex to fund the div and your production starts to drop off then what?" The way I read it is lets cut capex, because Natgas prices are below $2.50 (or any chosen level), so its better to let production drop than giving away production from new wells. A logical, simple and stupid cash management strategy.

[robert41]

Amazing how quick people criticize something that hasn't happened.. I own pey and Bir for different reasons cr and aav too. You may not like his strategy but the strategy may change. Like him or not they paid off 900 million in debt call it luck or guts or smart whatever it still happened.. interesting to watch these companies in the same industry with different philosophies. I think we are a

[Quintessential1]

Hey I am sorry if it seems like criticizing, for me , it is kind of thinking out loud and looking for input including yours. I think it is good to compare all the strategies out there and I think most would have agreed that paying down debt was one of the best ones.   As far a BIR goes if the commodity prices average that $70 WTI / $3 AECO they will never have to make that choice and