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Peyto Exploration says it's turning the steep drop in natural gas prices into an opportunity. The nat gas company, which calls itself one of the lowest cost producers in North America, says it's looking to take advantage of cheaper service rates and less competition for land sales.
Chief executive Darren Gee tells BNN Peyto is better positioned to survive decade low gas prices than other producers.
What Peyto makes from producing natural gas liquids covers its cash costs, says Gee. And it has 40 percent of its gas hedged this year.“Really I only have to worry about the little piece in the middle, which is the spot gas production and our capital program. How aggressive can we be in this environment?," asks Gee.