Lowering Peyto’s FVE on Bearish Drilling Outlook
Peyto Exploration & Development reported second-quarter average production of 97.5 thousand barrels of oil equivalent per day, down 4% sequentially and an increase of 11% from the year-ago quarter. Second-quarter production was slightly below our expectations of 100.6 mboe/d driven by the company’s backlog of drilled but uncompleted wells. The backlog has now been connected, and as a result, to-date August daily production has averaged 111 mboe/d. However, the company expects production leve...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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