Peyto Exploration & Development Corp. (TSX: PEY) Q4 2024 Earnings | March 11, 2025

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Peyto Exploration & Development Corp. (TSX: PEY), a leading Canadian natural gas producer, reported strong Q4 2024 results on March 11, 2025, highlighted by record production, robust margins, and continued operational efficiency. Fourth quarter production averaged 133,426 boe/d—an 11% increase from Q4 2023—driven by successful drilling and a full quarter of output from the Repsol Canada Energy Partnership acquisition. Natural gas production rose 14% year-over-year to 708.1 MMcf/d, while NGL production was 15,409 bbl/d. Natural gas and NGL sales including realized hedging gains totaled $315.1 million, down 1% from Q4 2023, as lower realized gas prices were largely offset by higher volumes and a 63% increase in realized hedging gains. Quarterly funds from operations were $199.0 million ($1.00 per diluted share), with free funds flow of $79.6 million. Net earnings for the quarter reached $78.2 million ($0.39 per diluted share). Peyto achieved a record Q4 operating margin of 64% and reduced cash costs to $1.36 per Mcfe—the lowest since Q3 2023—demonstrating industry-leading cost control. The company distributed a record $258 million in dividends for 2024, reflecting strong free cash flow and shareholder returns. Annual capital expenditures totaled $457.6 million, supporting a year-end production record of 136,000 boe/d and a trailing 12-month capital efficiency of $9,700 per boe/d. CEO Darren Gee credited the results to operational excellence, strategic acquisitions, and disciplined capital allocation. For 2025, Peyto has hedged 480 MMcf/d of natural gas, securing $850 million in revenue, and set a capital budget of $450–500 million. Outlook: 2025 production target: 136,000 boe/d Continued focus on cost reduction and operational efficiency Ongoing investment in drilling and infrastructure Strong balance sheet and robust dividend policy About Inside Ticker: For more expert analysis and real-time updates on Peyto Exploration & Development Corp. (TSX: PEY) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #Peyto #PEY #Q42024 #Earnings #NaturalGas #CanadianEnergy #FinancialResults #ProductionGrowth #Dividends #InsideTicker