Impact: Slightly positive. Factoring in a modestly delayed commercialization date of April 1, 2015 for Pengrowth's Lindbergh project, we view the Company's 1Q15 financial results as reasonably in line with our original thinking. Although the Company has revised its 2015e production guidance down ~4% as a result of the commerciality delay, a non-core asset disposition, and uneconomic well shut-ins, with a concurrent $30 mm increase to capital spending for expanded scope/Phase II projects at Lindb ....

08 May 2015
PENGROWTH ENERGY CORPORATION (PGF) ANNOUNCES STRONG FIRST QUARTER FUNDS FLOW, DECLARATION OF COMMERCIALITY AND RECORD PRODUCTION AT ITS LINDBERGH THERMAL PROJECT

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PENGROWTH ENERGY CORPORATION (PGF) ANNOUNCES STRONG FIRST QUARTER FUNDS FLOW, DECLARATION OF COMMERCIALITY AND RECORD PRODUCTION AT ITS LINDBERGH THERMAL PROJECT
Pengrowth Energy (PGF:TSE) | 0 0 -3.2% | Mkt Cap: 508.1m
- Published:
08 May 2015 -
Author:
Michael Hearn -
Pages:
3 -
Impact: Slightly positive. Factoring in a modestly delayed commercialization date of April 1, 2015 for Pengrowth's Lindbergh project, we view the Company's 1Q15 financial results as reasonably in line with our original thinking. Although the Company has revised its 2015e production guidance down ~4% as a result of the commerciality delay, a non-core asset disposition, and uneconomic well shut-ins, with a concurrent $30 mm increase to capital spending for expanded scope/Phase II projects at Lindb ....