Peyto reported second quarter fi nancial and operating results that were largely in line with expectations, absent of ongoing TCPL restrictions and projected realized hedging gains that did not materialize to the extent forecasted. Aggregate CFO fell short of our estimates. We were frankly positively surprised, however, to observe Peyto deliver its lowest corporate cash costs ever, which is impressive given a restricted position in a traditionally tougher period in light of spring break-up, and ....
