November 11, 2009 / 10:28 PM / 9 years ago

UPDATE 1-Peyto Energy Q3 profit falls 58 pct

* Q3 earnings C$0.24/unit vs C$0.61/unit yr-ago

* Rev falls 45 pct

* FFO down 39 pct

* Sees prelim 2010 capital budget at C$175 mln-C$200 mln

Nov 11 (Reuters) - Canada’s oil and gas explorer Peyto Energy Trust PEY_u.TO posted a 58 percent drop in quarterly profit, hurt by lower oil and gas production.

For the third quarter, the company earned C$27 million, or 24 Canadian cents per unit, compared with C$64.8 million, or 61 Canadian cents per unit, a year earlier.

Revenue fell 45 percent to C$60.9 million.

The trust said its funds from operations fell 39 percent to C$45.3 million during the quarter.

Production declined 11 percent to 17,792 barrels of oil equivalent per day.

The preliminary 2010 capital budget has been established between C$175 and C$200 million, before the effect of drilling royalty credits, Peyto said in a statement.

Units of the Calgary, Alberta-based company closed at C$11.84 on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)

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