Peyto Reports Record First Quarter 2026 Results and 9% Dividend Increase

About this update from Peyto Exploration & Development Corp.

CALGARY, Alberta, May 12, 2026 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to report record operating and financial results for the first quarter of 2026, and a $0.01 per share (9%) increase to its monthly dividend. Q1 2026 Highlights: First Quarter 2026 in Review Peyto was active in the quarter with five drilling rigs in the Greater Sundance and Brazeau areas, as well as with pipeline and compression projects that expanded the existing gathering systems to accommodate incremental production volumes. First quarter production averaged 147,513 boe/d, up 10% year over year, setting a new record for the Company. Natural gas prices varied in the quarter with cold winter weather driving up demand, particularly in the US Midwest and Eastern markets where Peyto had exposure to daily market prices. The AECO 7A monthly gas price averaged $2.36/GJ while NYMEX Henry Hub (last day) averaged US$5.04/MMBtu. Peyto’s diversification to premium winter markets helped to fetch a strong realized natural gas price, before hedging, of $4.32/Mcf ($3.76/GJ), 59% higher than AECO 7A. Additionally, the Company recorded $0.37/Mcf of realized hedging gains on its gas volumes in the quarter from its mechanistic risk management strategy. All in, Peyto's realized gas price after hedging totaled $4.69/Mcf or 73% higher than AECO 7A monthly price. The strong gas price, combined with Peyto's low-cost structure, boosted FFO to a record $293.0 million, up 20% from Q4 2025. This record FFO funded $150.5 million of capital expenditures, $67.6 million of shareholder dividends and allowed for a $89.2 million reduction in net debt in the quarter. (1)   This is a Non-GAAP financial measure or ratio. See "non-GAAP and Other Financial Measures" in this news release and in the Q1 2026 MD&A(2)   Excludes marketing revenue and other income Capital Expenditures Peyto continued with a five-rig program in the first quarter and spud 23 gross (23.0 net) horizontal wells, including 2 Cardium, 2 Viking, 6 Notikewin, 6 Falher, 6 Wilrich, and 1 Bluesky well in the core Sundance and Brazeau areas. The Company also completed 23 gross (23.0 net) wells and brought 21 gross (21.0 net) wells on production in the quarter, resulting in total well-related capital expenditures of $120.6 million...

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