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BRIEF-Pengrowth Provides Framework For Multi-Year Development Plan

Published 2018-06-26, 04:42 p/m
© Reuters.  BRIEF-Pengrowth Provides Framework For Multi-Year Development Plan
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June 26 (Reuters) - Pengrowth Energy Corp PGF.TO :

* PENGROWTH PROVIDES FRAMEWORK FOR MULTI-YEAR DEVELOPMENT PLAN

* PENGROWTH ENERGY CORP - EXPECTS TO FINALIZE ITS 2019 CAPITAL BUDGET PLANS IN EARLY 2019

* PENGROWTH ENERGY - TARGETING 40 PERCENT PRODUCTION GROWTH AT LINDBERGH BY 2020 VERSUS EXIT 2017 LEVELS RESULTING IN LINDBERGH PRODUCTION ECLIPSING 20,000 BBL/ DAY BY 2020

* PENGROWTH ENERGY CORP - 2018 CAPITAL EXPENDITURE BUDGET OF $65 MILLION REMAINS UNCHANGED

* PENGROWTH ENERGY CORP - LOOKING TO GENERATE AVERAGE ANNUAL CORPORATE PRODUCTION OF 22,500 TO 23,500 BOE PER DAY

* PENGROWTH ENERGY - OVERALL CORPORATE PRODUCTION IS EXPECTED TO MODESTLY DECLINE IN 2019 WITH DECOMMISSIONING OF SABLE OFFSHORE ENERGY PROJECT

* PENGROWTH ENERGY CORP - BASED ON WTI PRICING OF US $65 PER BBL, PENGROWTH'S 2019 CAPEX EXPECTED TO RANGE BETWEEN $120 - $125 MILLION

* PENGROWTH ENERGY CORP - PRODUCTION AT LINDBERGH IS ON TRACK TO ACHIEVE 18,000 BBL PER DAY EXIT GUIDANCE BY END OF YEAR

* PENGROWTH ENERGY - CURRENT PRODUCTION AT LINDBERGH HAS EXCEEDED 17,500 BARRELS (BBL) PER DAY

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