Dividend ProtectionAlthough Peyto’s extensive hedge book has protected its high-yielding base dividend at lower natural gas prices, it has also constrained its upside to any potential improvements in natural gas prices relative to its peers.
Hedging StrategyDue to a large portion of its volumes being hedged, Peyto will not be a primary beneficiary of the upside in AECO prices.
Market OpportunitiesDue to a large portion of its volumes being hedged, Peyto will not be a primary beneficiary of the upside if natural gas prices improve.