Q: Thank you for your past guidance !
Can you please find out when Peyto's existing hedges expire ?
Can I check this on my own ?
Thank you
If you look at Note 12 of the company's March 31 First Quarter financial statements at www.sedar.com all the hedges are detailed. We have copied the note below but the format may be a bit more difficult to read than on the financial statements themselves.
Following is a summary of all risk management contracts in place as at March 31, 2022:
Natural Gas
Period Hedged- Monthly Index April 1, 2022 to October 31, 2022 November 1, 2022 to March 31, 2023 April 1, 2023 to October 31, 2023
Natural Gas
Period Hedged - NYMEX
April 1, 2022 to October 31, 2022 November 1, 2022 to December 31, 2022 November 1, 2022 to March 31, 2023 January 1, 2023 to December 31, 2023 April 1, 2023 to October 31, 2023 January 1, 2024 to March 31, 2024
Natural Gas
Period Hedged - Malin
April 1, 2022 to October 31, 2022 November 1, 2022, to March 31, 2023
Crude Oil
Period Hedged - WTI
January 1, 2022 to December 31, 2022 April 1, 2022 to June 30, 2022
Crude Oil
Period Hedged - WTI
January 1, 2022 to June 30, 2022 January 1, 2022 to December 31, 2022 April 1, 2022 to June 30, 2022
July 1, 2022 to September 31, 2022 July 1, 2022 to December 31, 2022 October 1, 2022 to December 31, 2022 January 1, 2023 to March 31, 2023
Type
Fixed Price Fixed Price Fixed Price
Type
Fixed Price Fixed Price Fixed Price Fixed Price Fixed Price Fixed Price
Type
Fixed Price Fixed Price
Type
Fixed Price Fixed Price
Type
Fixed Price Fixed Price Fixed Price Fixed Price Fixed Price Fixed Price Fixed Price
Daily Volume
115,000 GJ 195,000 GJ 180,000 GJ
Daily Volume
55,000 mmbtu 70,000 mmbtu 70,000 mmbtu 70,000 mmbtu 40,000 mmbtu 60,000 mmbtu
Daily Volume
40,000 mmbtu 40,000 mmbtu
Daily Volume
300 bbl 300 bbl
Daily Volume
600 bbl
900 bbl 2,900 bbl 400 bbl 1,200 bbl 100 bbl 400 bbl
Price (AECO CAD/GJ)
$2.07 to $2.26 $2.30 to $4.03 $2.05 to $3.00
Price (Nymex USD/mmbtu)
$2.56 to $4.19 $3.97 to $4.78 $4.05 to $4.85 $3.42 to $3.77 $3.35 to $3.90 $4.15 to $4.27
Price (Nymex USD/mmbtu)
$2.35 to $2.40 $2.90 to $3.10
Price (WTI USD/bbl)
$63.75 to $64.65 $62.10 to $64.00
Price (WTI CDN/bbl)
$83.45 to $90.50
$79.75 to $85.50 $89.50 to $151.00 $100.15 to $121.50 $87.75 to $105.75 $100.70 $85.25 to $101.05
As at March 31, 2022, Peyto had committed to the future sale of 92,575,000 gigajoules (GJ) of natural gas at an average price of $2.65 per GJ or $3.05 per mcf, 66,180,000 mmbtu at an average price of $3.58 US per mmbtu, 109,800 barrels of crude at an average price of $63.79 USD per bbl,and 868,800 barrels of crude at an average price of $94.63 CAD per
13
bbl. Had these contracts closed on March 31, 2022, Peyto would have realized a loss in the amount of $348.6 million. If the gas price on March 31, 2022, were to increase by $0.10/GJ, the unrealized loss would increase by approximately $31.7 million. An opposite change in commodity prices would result in an opposite impact on other comprehensive income.
Subsequent to March 31, 2022, Peyto entered into the following contracts:
Natural Gas
Period Hedged - NYMEX January 1, 2024 to March 31, 2024
Crude Oil
Period Hedged - WTI
July 1, 2022 to September 30, 2022 July 1, 2022 to December 31, 2022 January 1, 2023 to March 31, 2023 April 1, 2023 to June 30, 2023
Related party transactions
Type
Fixed Price
Type
Fixed Price Fixed Price Fixed Price Fixed Price
Daily Volume
10,000 mmbtu
Daily Volume
300 bbl 100 bbl 500 bbl 200 bbl
Price (Nymex USD/mmbtu)
$5.03
Price (WTI CDN/bbl)
$122.10 to $130.25 $125.00 $115.25 to $111.75 $111.50