Peyto Exploration & Development Corp.
0VCO.L
London Stock Exchange24.65
CAD
+0.48
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Peyto Exploration & Development Corp.
0VCO.L
(London Stock Exchange)
Recent
price
24.65
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Peyto Exploration & Development Corp. is a Canadian energy company engaged in the exploration, development, and production of natural gas, oil, and natural gas liquids primarily in Alberta's Deep Basin; operations focus on unconventional natural gas resources with production weighted approximately 88% to natural gas and 12% to natural gas liquids including condensate, pentanes plus, propane, and butane; the company markets its production stream across various North American hubs such as AECO, Ventura, Dawn, and Henry Hub, supplemented by a 15-year gas supply agreement with the Cascade power plant and additional firm transportation to Union Dawn hub commencing November 2025. Founded in 1997 and headquartered in Calgary, Alberta, Peyto holds proved plus probable reserves of 8.2 TCFe (1.37 billion boe) as of December 31, 2024, supported by a strategy emphasizing low-cost drilling, high-quality reserves, and balanced funding through cash flow, equity, and credit. In October 2023, Peyto acquired Repsol Canada Energy Partnership for C$699 million, adding significant lands and production that contributed to a 19% annual production increase to 125,202 boe/d in 2024, record PDP reserves additions of 457 BCFe, and sustained output growth to 136,000 boe/d by December 2024; the company drilled 75 gross wells in 2024 with 25% improved production performance and 40% higher per-well PDP recovery versus prior years, while optimizing acquired assets through ethane rejection, sour gas shut-ins, and facility upgrades to achieve a 10% reduction in per-unit operating costs to $0.50/Mcfe. Peyto generated $713 million in funds from operations and $281 million in earnings for 2024 despite low AECO prices, returning $258 million in dividends (92% of earnings) and reducing net debt by $14 million; hedging protects 480 MMcf/d at $4.01/Mcf for 2025 and 366 MMcf/d at $4.51/Mcf for 2026, enabling a $450-500 million capital program in 2025 targeting similar strong results in Dunvegan, Notikewin, and Wilrich formations.