07:33:24 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Pengrowth Energy Corp
Symbol PGF
Shares Issued 528,758,321
Close 2014-09-04 C$ 6.55
Market Cap C$ 3,463,367,003
Recent Sedar Documents

Successful Inv says buy Pengrowth Energy

2014-09-04 20:18 ET - In the News

The Successful Investor, in the September, 2014, issue, says buy Pengrowth Energy Corp., recently $6.70. The Investor said buy 16 times from August, 2005, to January, 2014, at prices ranging from $5.07 to $26. A $1,000 investment for each of the 16 buys is now worth $9,949. Pengrowth has successfully arranged transportation for production from its Lindbergh oil sands project in Alberta, which should start operating next year. Under the terms of a deal with Husky Energy, Pengrowth will build a 15-kilometre pipeline from Lindbergh to a larger pipeline system operated by Husky, providing easier access to Canadian and U.S. customers. The 15-kilometre pipeline will cost $20-million. To put that in perspective, phase 1 of Lindbergh will cost $630-million, of which $124.1-million was spent in the second quarter of 2014. This pushed Pengrowth's cash flow for the quarter to 23 cents a share from 28 cents a share a year earlier. The Investor says Lindbergh is worth it. Phase 1 will add 12,500 barrels a day to Pengrowth's production (which averaged 73,800 barrels a day in the second quarter), and will also lower its exposure to weak gas prices. This in turn should support its four-cent monthly dividend, which yields 7.2 per cent. Buy.

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