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Company News

BRIEF-Peyto says monthly dividend will be reduced to $0.06 per share

Jan 11 (Reuters) - Peyto Exploration & Development Corp :

* PEYTO REPORTS ACHIEVEMENT OF YEAR END PRODUCTION TARGET AND REVISES 2018 OUTLOOK

* EXPECTS TO REPORT ANOTHER PROFITABLE AND SUCCESSFUL YEAR IN 2017

* DEVELOPMENT PLANS DEFERRED AND CAPITAL BUDGET REDUCED TO $200-$250 MILLION FOR 2018

* - REVISED CAPITAL PLAN FOR 2018 IN LIGHT OF RECENT 40% DECLINE IN NEAR-TERM NATURAL GAS PRICES

* MONTHLY DIVIDEND WILL BE REDUCED FROM CURRENT $0.11/SHARE TO $0.06/SHARE

* - SCOTT ROBINSON, PEYTO’S CURRENT CHIEF OPERATING OFFICER (COO) HAS DECIDED TO TRANSITION TOWARDS RETIREMENT

* AVERAGE PRODUCTION FOR YEAR 2018 IS EXPECTED TO BE 2% LOWER THAN 2017.

* PEYTO EXPLORATION & DEVELOPMENT -APPOINTED JEAN-PAUL LACHANCE, PEYTO’S CURRENT VP EXPLOITATION, TO POSITION OF EXECUTIVE VP OF ENGINEERING AND COO Source text for Eikon: Further company coverage:

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