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Pengrowth Energy Corp (PGF.TO)

PGF.TO on Toronto Stock Exchange

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21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Pengrowth to sell its Olds/Garrington area assets for $300 mln
Tuesday, 11 Jul 2017 08:00am EDT 

July 11 (Reuters) - Pengrowth Energy Corp -:Pengrowth enters into agreement for the sale of its olds/garrington area assets for $300 million.Pengrowth Energy Corp sees ‍2017 average daily production 41,500 to 43,500 boe per day​.Pengrowth Energy Corp - ‍olds/garrington area assets are expected to generate 2017 average daily production of 13,875 barrels of oil equivalent per day​.Pengrowth Energy Corp sees ‍2017 total capital expenditures $125 million​.Pengrowth Energy - entered agreement with a private company owned by a large canadian life insurance co for sale of its olds/garrington area assets.Pengrowth Energy Corp - purchaser of second Swan Hills sales package has indicated that it is unable to complete its financing for acquisition.Pengrowth Energy Corp - ‍has given notice of termination of sale agreement announced on march 20​.Pengrowth Energy Corp - Pengrowth will recommence its efforts to sell Swan Hills assets.  Full Article

Pengrowth delivers Q1 funds flow from operations of $0.05 per share
Tuesday, 2 May 2017 08:06pm EDT 

May 2 (Reuters) - Pengrowth Energy Corp :Pengrowth delivers transformational debt reduction in first quarter driven by asset sales.Pengrowth energy corp - company delivered q1 funds flow from operations of $0.05 per share.Pengrowth energy corp - since start of 2017 pengrowth has closed or expects to close $707 million of asset sales.Pengrowth energy corp - achieved q1 average daily production of 52,957 boe per day.Pengrowth energy corp - at end of quarter, pengrowth elected to close out its 2017 oil risk management contracts at a cost of $12.7 million.Pengrowth energy corp - "at this time has no oil risk management contracts in place".  Full Article

Pengrowth to sell remaining Swan Hills assets for $185 mln
Tuesday, 25 Apr 2017 05:11pm EDT 

April 25 (Reuters) - Pengrowth Energy Corp -:Pengrowth enters into agreement to sell remaining Swan Hills assets for $185 million.Pengrowth Energy Corp - divested assets generated average daily production of approximately 5,150 barrels of oil equivalent per day during q4.Pengrowth Energy - sale of remaining swan hills assets expected to impact 2017 average production guidance by approximately 3,400 boe per day.Pengrowth Energy Corp - divested assets had proved plus probable reserves of 21.0 million boe assigned to them as at december 31, 2016.Pengrowth Energy Corp - revised 2017 production to be between 43,500 and 45,500 boe per day.Pengrowth energy corp sees 2017 total capital expenditures $125 million.Pengrowth Energy Corp - sees fy funds flow from operations $160 million.Pengrowth Energy - to use proceeds from sale to further reduce its debt, including prepaying remaining outstanding $100 million of 6.35% senior term notes.  Full Article

Pengrowth reduces indebtedness by CDN $530 mln following prepayment of US $300 million of notes and redemption of convertible debentures
Monday, 3 Apr 2017 06:30am EDT 

Pengrowth Energy Corp : Pengrowth reduces indebtedness by CDN $530 million following prepayment of US $300 million of notes and redemption of convertible debentures .Following repayment, redemption, co's debt as at March 31, 2017, falls to cdn $1.15 billion.  Full Article

Pengrowth agrees to sell north central Alberta properties for $180 mln
Monday, 20 Mar 2017 08:10am EDT 

Pengrowth Energy Corp : Pengrowth reaches agreement to sell north central Alberta properties for $180 million . Pengrowth Energy -divested assets generated average daily production of approximately 4,920 barrels of oil equivalent per day during q4 of 2016 . Pengrowth Energy - expects to use a portion of sale proceeds to pre-pay remaining outstanding us $100 million of 6.35 pct senior term notes . Pengrowth Energy Corp - sees revised 2017 production to be between 47,000 and 49,000 boe per day . Pengrowth Energy Corp - full year 2017 average production guidance is expected to be impacted by approximately 3,100 boe per day due to deal . Pengrowth Energy Corp sees 2017 total capital expenditures $125 million .Pengrowth Energy Corp - sees fy 2017 funds flow from operations $170 million.  Full Article

Pengrowth announces plan to reduce outstanding debt by $530 mln
Tuesday, 21 Feb 2017 09:03am EST 

Pengrowth Energy Corp : Pengrowth announces plan to reduce outstanding debt by $530 mln through retirement of $127 mln of convertible debentures and the prepayment of us $300 mln of the 6.35 pct senior notes due July 26, 2017 . Pengrowth Energy Corp - plan to reduce its outstanding debt through use of existing cash on hand . Pengrowth Energy Corp - intends to use cash on hand to retire $127 million of convertible debentures, on maturity on March 31, 2017 . Pengrowth Energy - to use remaining cash to pre-pay us $300 million principal amount outstanding of us $400 million 6.35 pct senior notes maturing July 26, 2017 .Pengrowth Energy Corp - following payments, co expects pro-forma debt to be reduced to about $1.1 billion and comprised entirely of senior term notes.  Full Article

Pengrowth announces plan to reduce outstanding debt by $530 mlm
Tuesday, 21 Feb 2017 07:30am EST 

Pengrowth Energy Corp : Pengrowth announces plan to reduce outstanding debt by $530mm through retirement of $127 mln of convertible debentures and the prepayment of us $300 mln of the 6.35 pct senior notes due July 26, 2017 . Pengrowth Energy - following payments, company expects pro-forma debt to be reduced to about $1.1 billion and comprised entirely of senior term notes .Pengrowth Energy - continues to seek out opportunities to further reduce its outstanding debt, including through disposition of assets.  Full Article

Pengrowth Energy Corp and Frog Lake Energy Resources Corp enter into a sale leaseback agreement for co-generation facilities at Lindbergh
Friday, 1 Apr 2016 01:49pm EDT 

Pengrowth Energy Corp and Frog Lake Energy Resources Corp:Says agreement for the sale and leaseback of the co-generation facilities at Pengrowth's Lindbergh thermal oil project in Cold Lake Alberta.Under terms of agreement, FLERC has made an investment of Cdn $35 million and will own and leaseback the co-generation facilities.  Full Article

Pengrowth Energy Corp announces 2015 fourth quarter cash dividend of c$0.01 per share
Thursday, 19 Nov 2015 04:31pm EST 

Pengrowth Energy Corp:Announced that its fourth quarter 2015 dividend, payable on December 15, 2015, will be Cdn $0.01 per common share.Dividend will be payable to all shareholders who hold Pengrowth shares at the close of business on the record date of November 30, 2015.  Full Article

Pengrowth Energy Corp updates asset disposition process and announces agreement to sell Jenner area properties for $80 million
Thursday, 22 Oct 2015 05:54pm EDT 

Pengrowth Energy Corp:Entered into an agreement for the sale of its non-core Jenner assets in south-eastern Alberta for cash consideration of $80 million.With the sale of Jenner and including letters of intent (LOI's) as well as previously closed dispositions, total expected disposition proceeds are now in excess of $300 million in 2015.In addition, Pengrowth has asset disposition packages in the market that have generated additional cash offers of over $450 million.Company remains confident that it will successfully achieve its $600 million disposition target in 2015.Expected proceeds from these non-core asset sales will be directed towards reducing Pengrowth's outstanding debt.  Full Article

BRIEF-Pengrowth to sell its Olds/Garrington area assets for $300 mln

* Pengrowth enters into agreement for the sale of its olds/garrington area assets for $300 million