Following the announcement just over two weeks ago that the Company had inked a deal to sell its Bodo property, Pengrowth has followed up with a second transaction, this time selling its Jenner area properties in south eastern Alberta for cash consideration of $80 mm. While 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.

26 Oct 2015
Pengrowth Energy Updates Asset Disposition Process and Announces Agreement to Sell Jenner Area Properties for $80 Million

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Pengrowth Energy 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:
26 Oct 2015 -
Author:
Michael Hearn - Pages:
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Following the announcement just over two weeks ago that the Company had inked a deal to sell its Bodo property, Pengrowth has followed up with a second transaction, this time selling its Jenner area properties in south eastern Alberta for cash consideration of $80 mm. While 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.