Report
Joe Gemino

Peyto is one of the lowest-cost natural gas producers in North America.

Low AECO prices have taken their toll on narrow-moat Peyto Exploration & Development, but the company’s hedging program has helped mitigate the headwinds. During the first quarter, natural gas realizations (before hedging) fell to CAD 1.98 a barrel, a sharp decline from first-quarter 2017 levels of CAD 3.14/bbl. However, the company’s successful hedging program resulted in netbacks of CAD 2.86/bbl, slightly lower than 2016 levels of CAD 2.96/bbl despite a 35% decline in AECO prices.
Peyto r...
Underlying
Peyto Exploration & Development Corp.

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Joe Gemino

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