PEYUF Stock Recent News

Peyto is well-positioned in the gas market with a strong hedging strategy securing a high dividend yield of 9%. Production growth is on track with a target of ~160k BOE/D in 2028, supported by the acquisition of Repsol assets and smart drilling. PV15 valuation suggests a potential 35% upside in share price, with risks including volatility in gas prices and operational challenges.

CALGARY, Alberta, June 10, 2024 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto" or the "Company") is pleased to announce that it finalized an agreement with its syndicate of lenders to extend its $1 billion revolving operating facility (the "Revolving Facility") and its amortizing term facility (the "Term Facility"). The maturity dates of the Revolving Facility and the Term Facility have been extended to October 13, 2027, and October 13, 2026, respectively, from October 13, 2025. The amended Term Facility maintains the same $14.5 million per quarter amortization schedule but removes the $72.5 million lump-sum payment that was due on October 13, 2025, in the prior agreement.

CALGARY, Alberta, May 22, 2024 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX – PEY) ("Peyto") is pleased to announce that the nominees listed in the information circular – proxy statement dated April 4, 2024 were elected as directors of Peyto at Peyto's annual meeting of shareholders (the "Meeting") held on May 22, 2024. The detailed results of the votes for the election of directors, the appointment of auditors and the advisory vote on executive compensation held at the Meeting are set out below.

CALGARY, Alberta, May 15, 2024 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto") confirms that the monthly dividend with respect to May 2024 of $0.11 per common share is to be paid on June 14, 2024, for shareholders of record on May 31, 2024.

Peyto management reveals important details about the acquisition that were not initially highlighted for shareholders. The acquisition is a bolt-on with high-quality acreage that Peyto management has long wanted. The acquisition will lower costs, increase profits, and provide insulation against weak natural gas prices.

Peyto Exploration has hedged a substantial portion of its near-term natural gas production while offering exposure to higher average prices in US markets.

Peyto makes a rare large acquisition of Repsol Canada Energy Partnership for C$636 million, deviating from its history of small bolt-on acquisitions or no acquisitions. The acquisition is largely financed with debt, raising the risk of the strategy, but the potential rewards outweigh the presumed risk. Management plans to reduce debt levels by 2025 as the ability to export natural gas increases. However, deleveraging may not happen as planned, increasing financial risk.

Canadian natural gas firm Peyto Exploration & Development said on Wednesday that it has agreed to buy Spanish energy company Repsol's Canada unit for $468 million.

Peyto Exploration & Development Corp. (OTCPK:PEYUF) Q2 2023 Earnings Conference Call August 10, 2023 11:00 AM ET Company Participants JP Lachance - President & CEO Riley Frame - VP, Engineering Tavis Carlson - VP, Finance Conference Call Participants Chris Thompson - CIBC World Markets Operator Good day, and thank you for standing by. Welcome to the Peyto's Q2 2023 Financial Results Conference Call.

Peyto Exploration & Development Corp. is slowly adding rich gas production to its traditional dry gas production business. The main business strategy is to keep the dry gas costs where possible while adding the additional value of rich gas production and sales. The margin goal for the current year is one of the better results in several years.