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Thursday, 24 July, 2008, 09:40 GMT | more prices >>

Peyto sees income double

By Upstream staff

Calgary-based Peyto Energy Trust saw second-quarter net earnings more than double to C$56.8 million (US$50.7 million), or 54 cents per diluted share, from $25.6 million, or 27 cents per share, as increased production, effective hedging and higher commodity prices boosted income.

Revenue in the second quarter increased to $106.8 million from $99.4 million in the second quarter of 2005.

Earnings for the first six months of 2006 rose to $102 million, or 98 cents per diluted share, from $63.1 million, or 65 cents per diluted share, in the first half of last year.

Revenues for the first half of 2006 hit $220.5 million from $193.5 million in the first six months of 2005.

The trust owns assets in Alberta's Deep Basin.