Peyto Relies on Hedging
Continued low AECO prices have dragged on narrow-moat Peyto Exploration & Development, but the company’s hedging program continues to mitigate the headwinds. During the third quarter, natural gas realizations (before hedging) were CAD 1.46 per thousand cubic feet of natural gas, a sharp decline from third-quarter 2017 levels of CAD 2.99/mcf. However, the company’s successful hedging program padded netbacks for the quarter. After-hedging netbacks of CAD 2.43/mcf were down 14% from the prior-y...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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