RY 160.91 0.3555% SHOP 116.03 -0.4718% TD 83.98 0.2148% ENB 62.82 1.4699% BN 68.81 1.6396% TRI 251.78 0.6959% CNQ 39.88 2.0732% CP 103.16 1.9771% CNR 137.31 0.483% BMO 129.32 0.4661% BNS 65.69 0.551% CSU 4682.54 -0.7613% CM 81.6 0.1473% MFC 39.65 -0.0252% ATD 71.3 1.3072% NGT 76.22 -1.6643% TRP 68.46 0.9586% SU 47.8 2.006% WCN 273.36 0.3156% L 213.68 0.1594%
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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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