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Sat, May 16, 2026 astatine 11:06 AM CDT 7 min read
Key Points
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Record Q1 results: Peyto reported grounds first-quarter 2026 production, funds from operations, and earnings, driven by stronger pricing, debased costs, and marketplace diversification. Production averaged 147,500 BOE/day, with grounds funds from operations of CAD 293 cardinal and grounds net of CAD 171 million.
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Debt simplification and dividend hike: The institution said it reached its brushed leverage people earlier than expected, cutting indebtedness by different CAD 89 cardinal successful the 4th and CAD 275 cardinal since the Repsol acquisition. In response, Peyto raised its dividend by CAD 0.01 per stock per month, a 9% increase.
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2026 outlook remains steady: Peyto kept its full-year superior program astatine CAD 450 cardinal to CAD 500 cardinal and 70 to 80 nett wells, portion shifting much drilling toward liquids-rich targets. Management besides said hedging and diversification permission the institution good protected, with astir 70% of state volumes fixed for the summer.
Peyto Exploration & Development (TSE:PEY) reported grounds first-quarter 2026 production, funds from operations and earnings, arsenic absorption said stronger pricing, debased costs and marketplace diversification supported indebtedness simplification and a dividend increase.
President and CEO JP Lachance said the institution spent CAD 150 cardinal during the 4th portion reducing indebtedness by different CAD 89 million. Since the company’s Repsol acquisition successful October 2023, Peyto has reduced indebtedness by CAD 275 million, helium said.
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“Peyto’s bigger, stronger, and financially fitter than ever, which means we consciousness it’s clip to springiness a small much backmost to shareholders with an summation to the dividend,” Lachance said.
Production Reaches Record Levels
Peyto averaged 147,500 barrels of lipid equivalent per time successful the quarter, with accumulation reaching an all-time precocious of 148,000 BOE per day, Lachance said. Average accumulation was up 10% from the aforesaid play past year, oregon 7% connected a per-share basis.
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The institution ran 5 rigs during the 4th crossed its halfway areas and drilled 23 wells crossed formations ranging from the Cardium to the Bluesky. Peyto invested CAD 121 cardinal successful well-related costs, including drilling, completing, equipping and tying successful wells.
Lachance said the mean show of those wells is tracking intimately with results from the past 2 years. He highlighted caller Cardium wells successful Brazeau, wherever Peyto applied a drilling and completion strategy utilized past twelvemonth successful the Chambers area.
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