Peyto Exploration & Dev (TSE:PEY) has released an update.
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Peyto Exploration & Development Corp. reported a strong second quarter in 2024, with funds from operations reaching $154.8 million and production volumes increasing by 24% year over year, largely due to a strategic acquisition. The company’s effective hedging strategy shielded revenues from low natural gas prices, achieving a realized price over double the average. Additionally, Peyto’s operating costs decreased, maintaining its position as the industry leader in low-cost operations.
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