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Peyto Exploration & Development says its $636-million acquisition of Repsol’s Canadian assets has strengthened the company three years after the deal was announced. Production from the acquired Alberta Deep Basin properties has increased 130 per cent, rising from 23,000 to approximately 53,000 barrels of oil equivalent per day.
Peyto has drilled 135 Spirit River horizontal wells on the acquired lands, achieving a 44 per cent improvement in average 180-day production compared with earlier wells in the area. Estimated recoverable production has also increased from an average of 3.5 billion cubic feet to five billion cubic feet per well.
The company has increased throughput at the acquired processing facilities from roughly 175 million to 265 million cubic feet per day while integrating the infrastructure into its existing system. Since completing the transaction, Peyto has repaid $347 million of debt, reduced its debt-to-EBITDA ratio to approximately 1.0 and returned controllable cash costs to pre-acquisition levels.
Peyto expects production to exceed 150,000 boe/d by December 2026 and plans to operate four drilling rigs as it positions production for stronger winter natural gas prices.
Read the September 2026 Peyto Monthly Report
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