Peyto Exploration & Development Corp T.PEY

Peyto Delivers Strong Reserves Growth In 2023

[Betteryear2]

CALGARY, Alberta, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto" or the "Company") is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2023. The evaluation encompassed 100% of Peyto’s reserves and was conducted by GLJ Ltd. ("GLJ"). The year 2023 marks the Company’s 25th year of successful reserves development.

Peyto Delivers Strong Reserves Growth In 2023 (globenewswire.com)

[stockmarket1]

That's a great report Peyto just released. I can't see why the share price won't continue its rise up in tomorrow's trading day.  Dividend announced for next month and now this great report....why wouldn't it? 

[houbahop]

From my perspective, being a long term shareholder (15years+): " The Board of Directors of Peyto has approved a 2024 capital budget of $450–$500 million. The capital program is projected to add between 40,000 and 45,000 boe/d of new production by year end and offset the estimated 25% decline in base production allowing Peyto to target an exit rate between 135,000 to 140,000 boe/d." A

[stockmarket1]

The stock is responding well to the news. Lets hope we see $14+ before earnings date? 

[houbahop]

But I wanted to buy some $10..... It looks like natgas producers are not responding to low Natgas prices. Maybe some big hedge funds with a view of a collapse of Natgas prices took large short positions on producers and are now trying to get out without to much damage? Even Birchcliff, selling their production at spot price, has hold its price since mid-January...

[earlybird_787]

Maybe institutional investors are looking past 2024, and are preparing for expected robust Natgas demand in 2025. 

[stockmarket1]

I was thinking along the same lines. You look at a very long term chart of Nat Gas and you can't help to think that sooner or later the upside is inevitable. Doesn't matter whether it's in 2024 or 2025. It's bound to happen. I think it's been overdone to the downside imho. As we all now know. Yesterdays Peyto news release shows sunnier days are ahead. Definetly buying on any

[NonCredibleSrc]

And let's be honest - some on this board are well into 6 figures yearly while waiting! Sure takes the edge off!

[stockmarket1]

And heavily diversified into many sectors too. 

[Singoa58]

It's always supply and demand but so much natty gas out there worldwide... 

[stockmarket1]

That's the culprit to the decline in Nat gas. The short term solution might be to stop, or cut on production?? 

[GregC24]

https://oilprice.com/Energy/Energy-General/Warm-Winter-Drags-US-Natural-Gas-Prices-to-Three-Decade-Low.html

[TerribleEng]

A few months of sub $2 pricing doesn't impact the value of the PDP reserves to much. Whether a company that is unhedged like BIR loses $50-100MM doesn't cause it to lose multiples of that in market cap.  The back end of the curve is surprisingly strong. In the $3-4 range. The market is expecting to starve companies of Capex and for production to fall leading to a balanced market