Peyto Exploration and Development Corp - PEYUF stock
OTC Symbol: PEYUF | OTC Tier: Pink Current | Related ticker symbols: TSX: PEY
About[edit]
Peyto Exploration & Development Corp., headquartered in Calgary, Canada, operates in the Deep Basin of Alberta, engaging in oil, natural gas, and natural gas liquids exploration, development, and production; previously known as Peyto Energy Trust, the company underwent a name change to Peyto Exploration & Development Corp. in January 2011 and was founded in 1998.[1]
History[edit]
Peyto Exploration & Development Corp. traces its origin back to its founding in 1998. The company was established in Calgary, Canada, with a primary focus on the exploration, development, and production of oil, natural gas, and natural gas liquids in the Deep Basin of Alberta.[2]
Initially, Peyto operated as Peyto Energy Trust, which was a type of investment trust that held energy-producing assets. Energy trusts were popular in Canada for their tax advantages and income distribution to unitholders. However, in the early 2010s, the Canadian government introduced tax changes that made the trust structure less advantageous. As a result, many energy trusts, including Peyto Energy Trust, converted into traditional corporations to maintain their operations efficiently.[3]
In January 2011, Peyto Energy Trust changed its name to Peyto Exploration & Development Corp. and transitioned from an energy trust to a publicly traded corporation. The company continued its focus on the Deep Basin of Alberta, a prolific area known for its significant reserves of natural gas and oil.[2]
- ↑ Yahoo Finance. PEYUF Stock Profile. Retrieved on 11/26/2023.
- ↑ 2.0 2.1 peyto.com. History. Retrieved on 11/26/2023.
- ↑ WSJ.com. Peyto Exploration & Development Corp. Retrieved on 11/26/2023.
