As anticipated in the current Canadian natural gas price forward complex, Peyto has announced its intention to reduce its dividend to $0.06/month from $0.11/month (~$119 mm per annum from $218 mm) beginning in 2018e. Further, the company will lower 2018e E&D capex to $200-$250 mm from $300-$450 mm prior, below sustaining capex levels that we previously estimated at $325-$350 mm. The company attained its 2017 exit target of 115,000 boe/d, and at 11,000 bbl/d or ~10% liquids, is entering th
12 Jan 2018
Confirms dividend reduction, 2018e capex moderation
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Confirms dividend reduction, 2018e capex moderation
Peyto Exploration & Development Corp. (0VCO:LON) | 0 0 (-0.5%) | Mkt Cap: 1,705m
- Published:
12 Jan 2018 -
Author:
Robert Fitzmartyn -
Pages:
6
As anticipated in the current Canadian natural gas price forward complex, Peyto has announced its intention to reduce its dividend to $0.06/month from $0.11/month (~$119 mm per annum from $218 mm) beginning in 2018e. Further, the company will lower 2018e E&D capex to $200-$250 mm from $300-$450 mm prior, below sustaining capex levels that we previously estimated at $325-$350 mm. The company attained its 2017 exit target of 115,000 boe/d, and at 11,000 bbl/d or ~10% liquids, is entering th