Pengrowth Energy says Lindbergh 2P reserves have doubled in value

|About: Pengrowth Energy Corporation (PGH)|By:, SA News Editor

Pengrowth Energy (PGH) +5.9% AH after announcing the value of proved and probable reserves at its Lindbergh thermal oil sands project in Alberta has more than doubled to $2.2B from $1B.

In an update of bitumen reserves and contingent resources for the project, PGH says 19.6M bbl of probable reserves were reclassified to the proved category and an increase of 87.4M bbl in proved plus probable reserves, offset by ~236K bbl of production in 2014 to May 31.