Pengrowth ended 2015 with production in line with expectations on slightly lower than anticipated capital spending. In light of current commodity prices, Management has eliminated the quarterly dividend, which will save the Company ~$22 mm annually, although will likely lead to near-term pressure on the stock. Efforts continue on the Company’s $600 mm non-core asset sales process, with $263 mm closed in 2015 and another ~$40 mm expected to close in 1Q16e. Formal 2016e guidance will see $60-$70 m ....
22 Jan 2016
Pengrowth Energy Releases 2016 Guidance, Eliminates Dividend
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Pengrowth Energy Releases 2016 Guidance, Eliminates Dividend
Pengrowth Energy (PGF:TSE) | 0 0 -3.2% | Mkt Cap: 508.1m
- Published:
22 Jan 2016 -
Author:
Michael Hearn -
Pages:
6
Pengrowth ended 2015 with production in line with expectations on slightly lower than anticipated capital spending. In light of current commodity prices, Management has eliminated the quarterly dividend, which will save the Company ~$22 mm annually, although will likely lead to near-term pressure on the stock. Efforts continue on the Company’s $600 mm non-core asset sales process, with $263 mm closed in 2015 and another ~$40 mm expected to close in 1Q16e. Formal 2016e guidance will see $60-$70 m ....