Peyto announced second quarter financial and operating results that were in line with our expectations, highlighted by the preservation of profitability in the period, which will likely be singular across all E&P reporting. There is no change to 2016e guidance. We expect Peyto to continue to strive towards a ~120,000 boe/d 2016e exit rate. Peyto should be a core portfolio holding. We have realigned our 12-month target price to a valuation in line with that of its peer group at the strip,
11 Aug 2016
Announces Second Quarter Results
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Announces Second Quarter Results
Peyto Exploration & Development Corp. (0VCO:LON) | 0 0 (-0.5%) | Mkt Cap: 1,705m
- Published:
11 Aug 2016 -
Author:
Robert Fitzmartyn -
Pages:
7
Peyto announced second quarter financial and operating results that were in line with our expectations, highlighted by the preservation of profitability in the period, which will likely be singular across all E&P reporting. There is no change to 2016e guidance. We expect Peyto to continue to strive towards a ~120,000 boe/d 2016e exit rate. Peyto should be a core portfolio holding. We have realigned our 12-month target price to a valuation in line with that of its peer group at the strip,