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Peyto Grows Reserves and Production While Reducing Debt in 2022

Peyto Grows Reserves and Production While Reducing Debt in 2022
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Peyto Grows Reserves and Production While Reducing Debt in

Peyto Profitably Grows Reserves in 2021 and Confirms Larger Capital Program for 2022

17.02.2022 - CALGARY, Alberta, Feb. 16, 2022 (GLOBE NEWSWIRE) - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2021. The .

Peyto Reports Year End Reserves, Strategic Acquisitions and 48% Increase in Capital Budget

  FD&A (finding, development and acquisition) costs are used as a measure of capital efficiency and are calculated by dividing the capital costs for the period, including the change in undiscounted FDC, by the change in the reserves, incorporating revisions and production, for the same period (eg. 2020 Total Proved ($235.7-$190)/(536.5-527.3+29.1) = $1.19/boe or $0.20/Mcfe). The RLI is calculated by dividing the reserves (in boes) in each category by the annualized Q4 average production rate in boe/year (eg. 2020 Proved Developed Producing 274.6/(83.461x366) = 9.0). Peyto believes that the most accurate way to evaluate the current reserve life is by dividing the proved developed producing reserves by the annualized actual fourth quarter average production. In Peyto’s opinion, for comparative purposes, the proved developed producing reserve life provides the best measure of sustainability.

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