Maintaining Fair Value Estimate for Peyto Exploration After Weaker-Than-Expected Third Quarter
We are maintaining our CAD 29 fair value estimate for Peyto Exploration & Development despite weaker-than-expected results after digesting its third-quarter financial and operating results. Peyto generated 96,365 boe/d in the third quarter, well below our estimate of 112,000 boe/d. That translates to production growth of 19% year over year. Volumes surprised to the downside because of the intentional deferral of new production due to low commodity prices. The third quarter saw an uptick in A...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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