Peyto is a pure-play, low-cost Alberta Deep Basin dry-gas producer with a vertically integrated model: it operates and largely owns its gathering and processing plants, letting it hold total cash costs near $1.13/Mcfe — among the lowest in North America — and sustain profitability through gas-price cycles. FY2025 production rose 7% to 134,055 boe/d (~88% natural gas, 12% NGLs), delivering funds from operations of C$860.5M ($4.24/sh) and record net income of C$418.6M ($2.06/sh) at a 16% return on capital employed. A large multi-year hedge book and a monthly dividend define the equity story.
Year-end 2025 proved (1P) reserves reached 926.5 mmboe (509 mmboe proved developed producing) with a before-tax PV10 of ~C$6.9bn (~US$5.0bn), and 2P reserves of 1,450 mmboe — a deep, repeatable drilling inventory concentrated in the Deep Basin. Peyto cut net debt by C$171M to C$1,177.6M in 2025, generated C$375M of free funds flow, and raised the monthly dividend 9% to $0.12/share (annualized $1.44) in Q1 2026. Key sensitivities are AECO/NYMEX gas prices, NGL differentials and Alberta egress; the low-cost base and hedges provide downside protection but single-basin/single-commodity concentration remains the principal risk.
Its EV/EBITDA of 6.1x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 7.4% is higher than the 6.5% median, and at $4.84/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Peyto Exploration & Development Corp. scores 67/100, strongest on growth (74/100). Sub-scores: value 66, quality 67, growth 74, risk 35 (higher = riskier).
Peyto Exploration & Development Corp. holds approximately 0.93 billion boe of proved (1P) reserves with FY2025 production of about 134 thousand boe/d (12% liquids), a reserve life of roughly 19.0 years. Break-even: low (low-cost Deep Basin gas) — FY2025 cash costs of ~$1.13/Mcfe (~$6.80/boe) and field netback $3.61/Mcfe make Peyto one of the lowest-cost gas producers in North America; owned gas plants and repeatable Deep Basin drilling underpin a sub-$2/Mcf AECO breakeven and a 3.8x field recycle ratio.
For Peyto Exploration & Development Corp., no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Canada | 100% | 8 | Stable; pipeline egress constraints, oil-sands emissions policy. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Greater Sundance | Canada | Dry gas | core Deep Basin hub; largest producing area with wholly/partly owned gas plants |
| Brazeau River | Canada | Dry gas | liquids-richer Deep Basin acreage providing NGL uplift |
| Ansell / Kakwa | Canada | Dry gas | Cardium/Notikewin liquids-rich gas drilling inventory |
| Edson / Repsol Canada assets | Canada | Dry gas | ~C$465M 2023 acquisition adding gas production and infrastructure |
| Owned processing plants | Canada | Midstream | ~10 operated gas plants underpin lowest-quartile processing costs |
| Chambers / Nosehill | Canada | Dry gas | Deep Basin development and step-out inventory |
| Cecilia / Wildhorse | Canada | Dry gas | extension acreage for future Deep Basin development |
| Hedging program | Canada | Risk mgmt | multi-year natural gas hedges stabilize cash flow and dividend |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 96 | 106 | 111 | 125 | 134 |
| Proved reserves (bnboe) | 0.52 | 0.55 | 0.80 | 0.86 | 0.93 |
| Revenue ($bn) | 0.5 | 0.9 | 0.8 | 0.9 | 1.0 |
| EBITDA ($bn) | 0.3 | 0.7 | 0.6 | 0.6 | 0.7 |
| Net income ($bn) | 0.1 | 0.4 | 0.2 | 0.2 | 0.3 |
| Free cash flow ($bn) | 0.1 | 0.2 | 0.1 | 0.2 | 0.3 |
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✓ FY2025 figures verified against primary sources: