Nov 11 - 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.
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.
