Lack of New Pipelines Continues to Plague Peyto
After taking a fresh look at Peyto Exploration’s first-quarter results, we are lowering our fair value estimate to CAD 7 from CAD 8 to reflect our lower near-term price realizations due to pipeline shortages. The stock has tumbled over 20% this year, as the market is also aware of the declining price realizations as pipeline shortages plague Canada. However, we think the stock looks oversold at current levels. We expect price realizations to normalize to higher levels when crude and natural gas ...Peyto Energy is an unincorporated open-ended limited purpose trust established under the laws of the Province of Alberta. Through its direct and indirect subsidiaries, Co. is engaged in the acquisition, exploration, development and production of oil and natural gas in Western Canada.
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