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Pengrowth Energy Corp (PGF.TO)

PGF.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Pengrowth Energy posts Q3 average daily production 35,072 boe/d vs 55,137 boe/d
Thursday, 9 Nov 2017 05:13pm EST 

Nov 9 (Reuters) - Pengrowth Energy Corp :Pengrowth Energy Corp - ‍Q3 average daily production was 35,072 boe per day, compared to average daily production of 55,137 boe per day in Q3 of 2016​.Pengrowth Energy Corp sees FY 2017 ‍average daily production of 39,500 boe per day to 41,500 boe per day​.Pengrowth Energy Corp sees FY 2017 ‍total capital expenditures of $125 million ​.Pengrowth Energy - sees 2018 capital program of between $50 million & $60 million, to support annual production rate of 22,500 boe per day to 24,500 boe per day​.  Full Article

Pengrowth reaches agreement for sale of its quirk creek sour gas assets for $6.5 mln​
Friday, 3 Nov 2017 05:12pm EDT 

Nov 3 (Reuters) - Pengrowth Energy Corp ::Pengrowth reaches agreement for sale of its quirk creek sour gas assets.Pengrowth Energy Corp - ‍entered into an agreement for sale of its quirk creek assets in southern Alberta for total cash consideration of $6.5 million​.Pengrowth Energy Corp - ‍sale includes quirk creek sour gas plant and associated gathering systems related to production of sour gas and liquids.  Full Article

Pengrowth announces the sale of non-core Alberta assets
Wednesday, 18 Oct 2017 03:13pm EDT 

Oct 18 (Reuters) - Pengrowth Energy Corp :Pengrowth announces the sale of non-core Alberta assets.Says ‍sale is expected to generate material savings in aggregate operating expenses as well as general and administrative costs​.Says ‍cost savings, when combined with sale proceeds result in transaction being neutral to funds flow​.Says ‍sale is expected to generate material savings in aggregate operating expenses as well as general and administrative costs​.Says ‍upon completion of sale, Pengrowth's Alberta assets include its Lindbergh Thermal Oil, Quirk Creek and Fenn Big Valley Assets​.Says to sell ‍majority of remaining legacy assets in Alberta for nominal cash consideration, assumption of abandonment, reclamation liabilities​.  Full Article

PENGROWTH ANNOUNCES FINALIZATION OF AGREEMENTS TO AMEND FINANCIAL COVENANTS
Thursday, 12 Oct 2017 01:01pm EDT 

Oct 12 (Reuters) - Pengrowth Energy Corp ::PENGROWTH ANNOUNCES SIGNIFICANT DEBT REPAYMENT AND FINALIZATION OF AGREEMENTS WITH BANK SYNDICATE AND NOTEHOLDERS TO AMEND FINANCIAL COVENANTS.FINALIZED ‍AGREEMENTS AMEND EXISTING FINANCIAL COVENANTS EFFECTIVE FOR QUARTER ENDING SEPT 30 THROUGH TO & INCLUDING QUARTER ENDING SEPT 30, 2019​.TERMS OF AMENDING DEALS IS EXPECTED TO PROVIDE CO WITH "FINANCIAL FLEXIBILITY&RUNWAY TO RESTRUCTURE REMAINING DEBT WITH COVENANT LIGHT DEBT"​.‍HAS PREPAID ALL OF ITS OUTSTANDING TERM NOTES DUE IN 2018​.‍CREDIT LIMIT UNDER CREDIT FACILITY TO BE REDUCED TO CDN $330 MILLION AFTER COMPLETION OF DISPOSITION OF CO'S REMAINING SWAN HILLS ASSETS​.FINALIZED AGREEMENTS REDUCE CREDIT LIMIT UNDER CREDIT FACILITY TO C$400 MILLION​.  Full Article

PENGROWTH REACHES AGREEMENT TO SELL REMAINING SWAN HILLS PROPERTIES FOR $150 MLN
Wednesday, 6 Sep 2017 05:42pm EDT 

Sept 6 (Reuters) - Pengrowth Energy Corp ::PENGROWTH REACHES AGREEMENT TO SELL REMAINING SWAN HILLS PROPERTIES FOR $150 MILLION.PENGROWTH ENERGY CORP SAYS DEAL FOR ‍FOR TOTAL CASH CONSIDERATION OF $150 MILLION​.PENGROWTH ENERGY CORP - ‍ASSETS TO BE SOLD GENERATED AVERAGE DAILY PRODUCTION OF APPROXIMATELY 5,060 BARRELS OF OIL EQUIVALENT PER DAY​.PENGROWTH ENERGY CORP - ‍COMPANY EXPECTS TO PROVIDE AN UPDATE TO ITS Q4 AND FULL YEAR 2017 GUIDANCE FOLLOWING CLOSING OF SALE​.PENGROWTH ENERGY - COMBINED WITH ABOUT $18 MILLION DEPOSIT FROM INITIAL SALES PROCESS TERMINATED ON JULY 11, TOTAL CONSIDERATION WILL BE ABOUT $168 MILLION​.  Full Article

Pengrowth qtrly ‍FFO per share $0.05
Monday, 14 Aug 2017 04:05pm EDT 

Aug 14 (Reuters) - Pengrowth Energy Corp ::Pengrowth closes significant asset sales and reaches agreement in principle on key elements of covenant relief.Pengrowth Energy Corp - ‍achieved average daily production of 49,349 barrels of oil equivalent (boe) per day during second quarter​.Pengrowth Energy Corp - qtrly ‍FFO per share $0.05.Pengrowth Energy-agreed on key elements of amendment with noteholders who represent necessary majority of notes affected by proposed amendment​.Pengrowth Energy-‍proposed amendment includes relaxation of its covenants for period commencing with Q3 & up to and including period ending Sept 30, 2019​.Pengrowth Energy-‍agent bank for credit facility approached that would also see a reduction in credit facility from $1.0 billion to $400 million​.Pengrowth Energy Corp - ‍revised annual 2017 production guidance of 41,500 to 43,500 boe per day​.Pengrowth Energy Corp - ‍revised annual 2017 funds flow from operations guidance of $90 million​.Pengrowth Energy Corp - ‍Pengrowth anticipates its Q4 of 2017 average production to be 31,000 to 33,000 boe per day​.  Full Article

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

BRIEF-Pengrowth Energy posts Q3 average daily production 35,072 boe/d vs 55,137 boe/d

* Pengrowth Energy Corp - ‍Q3 average daily production was 35,072 boe per day, compared to average daily production of 55,137 boe per day in Q3 of 2016​