Exploration & Production | Quarterly / Earnings Reports | Debt | Second Quarter (2Q) Update | Capital Markets | Capital Expenditure
Peyto Drills 31 Wells Through Spring Break Up
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Peyto Exploration & Development Corp. has presented its operating and financial results for the second quarter of the 2014 fiscal year.
Profitable growth continued in the quarter with operating(1) and profit margins(2) of 78% and 30%, respectively.
Highlights: Second quarter 2014 production increased 24% (20% per share) to 434 MMcfe/d (72,302 boe/d) from 349 MMcfe/d (58,145 boe/d) in Q2 2013. Production per share up 20%. Funds from operations per share up 42%. Generated a record $162 million in Funds from Operations in Q2 2014, up 47% (42% per share) from $110 million in Q2 2013, due to increased production volumes and improved commodity prices. Cash costs of $1.17/Mcfe. Total cash costs, including royalties, operating costs, transportation, G&A and interest, were $1.17/Mcfe ($6.99/boe)…- ✓ Full news archive — U.S., Canada & international coverage
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