RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%
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Peyto Exploration & Development Corp’s net debt narrows despite revenue decline in Q2
Image source: shutterstock
Highlights
Canadian energy company Peyto Exploration & Development Corp (TSX: PEY) has its focus in developing and producing natural gas in the deep basin of Alberta. A major share of the company’s revenues is generated from the sales of natural gas and natural gas liquid.
Recently, Peyto inked a partnership interest purchase agreement for the acquisition of Repsol Canada Energy Partnership for CAD 636 million. The latter is the owner of the Canadian upstream oil and gas operations of Repsol Exploración. Under the agreement, Peyto will get rights over all the related midstream infrastructure and facilities based in the Deep Basin.
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