Impact: Neutral to Slightly Positive. Although the Jenner disposition was completed at below average metrics, in our view the transaction is a necessary step towards strengthening the Company's balance sheet and improving its financial flexibility. Pengrowth further noted year-to-date expected proceeds from its non-core asset disposition program have grown to over $300 mm, representing ~50% of the Company's 2015e $600 mm target.
22 Oct 2015
PENGROWTH ENERGY CORP. (PGF) UPDATES ASSET DISPOSITION PROCESS AND ANNOUNCES AGREEMENT TO SELL JENNER AREA PROPERTIES FOR $80 MILLION
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PENGROWTH ENERGY CORP. (PGF) UPDATES ASSET DISPOSITION PROCESS AND ANNOUNCES AGREEMENT TO SELL JENNER AREA PROPERTIES FOR $80 MILLION
Pengrowth Energy (PGF:TSE) | 0 0 -3.2% | Mkt Cap: 508.1m
- Published:
22 Oct 2015 -
Author:
Michael Hearn -
Pages:
3
Impact: Neutral to Slightly Positive. Although the Jenner disposition was completed at below average metrics, in our view the transaction is a necessary step towards strengthening the Company's balance sheet and improving its financial flexibility. Pengrowth further noted year-to-date expected proceeds from its non-core asset disposition program have grown to over $300 mm, representing ~50% of the Company's 2015e $600 mm target.