From GlobeNewswire: 2025-05-13 18:36:00

Peyto Exploration & Development Corp. reported strong financial and operating results for Q1 2025, with $225.2 million in funds from operations and $120.2 million of free funds flow. Production volumes averaged 133,883 boe/d, a 7% increase year over year. The Company’s low cash costs and realized natural gas prices after hedging contributed to the strong performance. Net debt was reduced by $65.7 million to $1.28 billion. Peyto also drilled 19 wells and completed 13 wells in the quarter, with total capital expenditures of $102.1 million. The Company remains committed to its 2025 capital guidance of $450 to $500 million.

Peyto realized a natural gas price after hedging of $4.17/Mcf in Q1 2025, significantly higher than the AECO benchmark. The Company’s netbacks were $3.53/Mcfe, the highest since Q1 2023, with a solid 71% operating margin. Cash costs totaled $1.42/Mcfe, 6% lower than Q1 2024. Peyto’s ongoing marketing and diversification efforts aim to secure revenues and support future dividends. The Company’s hedge position for Q2-Q4 2025 and 2026 is expected to protect revenue and provide revenue security.

Peyto’s future plans include an active drilling program, with 8 wells drilled since the start of Q2 2025. Recent drilling techniques in the Falher and Cardium areas have shown promising results, with plans for further drilling. The Company commissioned a new pipeline at its Brazeau gas plant to accept third-party natural gas, providing an additional revenue stream. Despite global economic uncertainty, Peyto remains focused on capital expenditures, dividend sustainability, and debt reduction. The Company’s Annual and Special Meeting is scheduled for May 22, 2025.



Read more at GlobeNewswire: Peyto Reports First Quarter 2025 Results