Factoring in a modestly delayed commercialization date of April 1, 2015 for Pengrowth’s Lindbergh project (originally January 2015), the Company’s 1Q15 financial results were reasonably in-line with our original thinking. Further, the Company elected to monetize a portion of its foreign exchange hedge positions in the period, resulting in $84 mm of proceeds that was used to reduce outstanding debt leading to total debt levels of $2.2 billion exiting the quarter, which was 2% below our forecast.
11 May 2015
Pengrowth Energy Announces 1Q15 Financial Results, Provides Strong Lindbergh Update
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Pengrowth Energy Announces 1Q15 Financial Results, Provides Strong Lindbergh Update
Pengrowth Energy (PGF:TSE) | 0 0 -3.2% | Mkt Cap: 508.1m
- Published:
11 May 2015 -
Author:
Michael Hearn -
Pages:
8
Factoring in a modestly delayed commercialization date of April 1, 2015 for Pengrowth’s Lindbergh project (originally January 2015), the Company’s 1Q15 financial results were reasonably in-line with our original thinking. Further, the Company elected to monetize a portion of its foreign exchange hedge positions in the period, resulting in $84 mm of proceeds that was used to reduce outstanding debt leading to total debt levels of $2.2 billion exiting the quarter, which was 2% below our forecast.