04:04:14 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Pengrowth Energy Corp
Symbol PGF
Shares Issued 547,708,699
Close 2017-02-16 C$ 1.73
Market Cap C$ 947,536,049
Recent Sedar Documents

Successful Inv says hold Pengrowth Energy

2017-02-16 21:04 ET - In the News

The Successful Investor, in the February, 2017, issue, says hold Pengrowth Energy Corp., recently $1.90. The Investor said buy 19 times from August, 2005, to September, 2015, at prices ranging from $1.71 to $26. Assuming a $1,000 investment for each of the 19 buys, the $19,000 position is now worth just $4,670. Pengrowth recently sold a 4-per-cent royalty on its Lindbergh oil sands project for $250-million to PrairieSky Royalty. This project produced 15,190 barrels a day in the third quarter of 2016. The royalty covers that production, as well as future production from Lindbergh phase 2, which is expected to add 17,500 barrels a day. The royalty also covers future production from the nearby Muriel Lake project, which is just northeast of Lindbergh and could start operations as early as 2025. The Investor says the $250-million payment for the royalty boosted Pengrowth's cash holdings to $530-million. which should help the company repay the $524.6-million in debt that comes due in 2017. Long-term debt (as of Sept. 30, 2016) is $1.5-billion. Pengrowth remains a hold.

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