Advertising Producers Association

Peyto Announces Closing of Repsol Acquisition, Exchange of Subscription Receipts Into Common Shares, an Issuance of Senior Secured Notes and Appointment of New Director

Retrieved on: 
Tuesday, October 17, 2023
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CALGARY, Alberta, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to announce that it has completed its previously announced acquisition of Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración, S.A.U. ("Repsol"), including all related midstream facilities and infrastructure located predominantly in the Deep Basin area of Alberta, for cash consideration of US$468 million (CDN$636 million) (the "Acquisition") prior to closing adjustments. The Acquisition increases Peyto’s current production to 123,000 boe/d (86% natural gas, 14% NGLs), adds over 800 high-impact gross drilling locations1 and includes extensive gas processing and pipeline infrastructure that complement Peyto’s legacy assets in the Edson area. Peyto has plans to begin drilling operations on the Repsol lands, immediately.

Key Points: 
  • In addition, on closing of the Acquisition, in accordance with the terms of the Subscription Receipts, each Subscription Receipt was exchanged for one common share of Peyto.
  • Trading in the Subscription Receipts on the Toronto Stock Exchange is expected to be halted and the Subscription Receipts delisted before trading commences on October 18, 2023.
  • The Company is also pleased to announce that it has priced an issuance of $160 million of senior secured notes.
  • Material assumptions include timing and payment of dividends on the Common Shares and the de-listing of the Subscription Receipts on the Toronto Stock Exchange.

Campaign asks Americans to choose Canada first for oil imports

Retrieved on: 
Monday, September 27, 2021
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This includes informing Americans the U.S. has a choice from where it imports oil, and that Canada is a better, closer, cleaner and friendlier option compared to countries like Russia and Saudi Arabia.

Key Points: 
  • This includes informing Americans the U.S. has a choice from where it imports oil, and that Canada is a better, closer, cleaner and friendlier option compared to countries like Russia and Saudi Arabia.
  • The campaign will also feature a grassroots component that calls on Canadians and Americans to respectfully advocate to the president and U.S. lawmakers about the benefits of Canadian energy.
  • The campaign will highlight that oil from Canada is a better option for America.
  • Im sure most Americans would prefer to use oil from their friends and allies here in Canada, as opposed to imports from jurisdictions with limited focus on the environment, labour rights, and indigenous participation, for example.

Fossil Fuels Far From Extinct: Oil and Gas Companies See Record Revenues

Retrieved on: 
Thursday, August 12, 2021
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The Canadian Association of Petroleum Producers (CAPP) recently released a new report titled, Canada's Natural Gas and Oil Emissions: Ongoing Reductions, Demonstrable Improvement.

Key Points: 
  • The Canadian Association of Petroleum Producers (CAPP) recently released a new report titled, Canada's Natural Gas and Oil Emissions: Ongoing Reductions, Demonstrable Improvement.
  • Ben Brunnen, Vice President, Oil Sands, Fiscal & Economic Policy commented, "Canada's natural gas and oil industry has a track record of being one of the most transparent around the world.
  • InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) reflected this upward trend for Canadian oil and gas having recently announced its financial and operating results for the three and six months ended June 30, 2021.
  • The company's oil and gas sales of $225.7 million beat the Zacks Consensus Estimate of $182 million.