the CEO of Peyto is now "crowing" about his "options" for transport in the future.
when in reality, he totally "missed the boat" on marketing diversification. He has yet to complete his FIRST Montney Well, and his plan to sell processing services to producers has totoally FIZZLED, with ZERO revenue booked.
You see the CEO of Peyto never had the foresight to LOCK IN low cost long term transport contracts to alternative regions for his gas like TOU did. And then once AECO prices collapsed, he spent the next 2 years desperately trying to find transport out of the basin. While tourmaline was PROactive in securing market diversification, the CEO of Peyto was REactive, and now crows about his "options". If you have no long term contracts to get your gas out of the basin, you might as well SPIN that failure as positively as possible.
And now that AECO prices have rebounded he's taking the opportunity to highlight an entirely MEANINGLESS datapoint about transport costs. Context matters. But he is the master of "misdirection". But some people know better.
While the CEO of Peyto often Devolves the conversation into MINE IS BIGGER THAN YOURs tropes, he never seems to compare what really matters: How am I doing for my SHAREHOLDERS, who have been DECIMATED under his REactionary, bland, and plodding leadership. They deserve ANSWERS. they won't get them in the monthly "Please buy my shares" missive.
If he ever did attempt to EXPLAIN the terrible performance of his company, and the share price, it might take an Entrire monthly letter. Just covering his THREE dividend cuts would take up most of his time.
Peyto is producing about 80k boe/d. This is what they were producing in 2014, 6 years ago. while they don't publish a FIVE YEAR plan, or even a ONE year plan, if you follow the "squiggly lines" in their presentation, you can see that Peyto has no plans to cross the 100k boe/d barrier until LATE 2022, which is SEVEN years after they first did this in 2015.
While Peyto lazily does the same thing over and over, TOU is Developing it's business, making acquisitions, experimenting with new ideas, creating value, and creating NEW COMPANIES. Peyto has CHOPPED it's dividend three times in the last 5 years. it's debt is PAINFULLY stuck above $1b with little prospect for it go materially lower.
I wonder if some of those who FELT BETRAYED by the CEO of Peyto, may move their money over to what is bound to be, given its ties to TOU, a Totaly RELIABLE and consisent payer of dividends that won't chop your PAY
ONE
TWO
or
THREE
times.
I am sure TOPAZ will be a very interesting alternative for dividend hunters.