Albert Alfonso • 64 Comments
Albert Alfonso • 17 Comments
Albert Alfonso • 21 Comments
Wed, Mar. 23, 11:58 AM
- Pengrowth Energy (PGH +5.2%) pops higher on news that Canadian billionaire Seymour Schulich acquired a 14.7% stake in the company.
- Schulich also is expected to seek the appointment of Ron Binns, CFO of Schulich's Nevada Capital Corp, to PGH’s board, WSJ reports.
- Schulich owns or controls 80M shares, valued at $78.4M based on the company’s latest closing stock price.
Mon, Mar. 21, 12:52 PM
Oct. 6, 2015, 10:59 AM
- Pengrowth Energy (PGH +10.3%) agrees to sell its non-core Bodo property in eastern Alberta to an unnamed buyer for $95M, which will be used to reduce the company’s debt.
- The Bodo property produced 2.7K boe/day on average for first eight months of 2015, but PGH says it still expects to produce 70K-72K boe/day for the full year.
- PGH says the sale brings its total asset sales and committed sales for 2015 to $260M, and it expects to achieve its $600M target in dispositions of non-core assets for the year.
Sep. 1, 2015, 10:42 AM
- Pengrowth Energy (NYSE:PGH) says it will change its dividend policy, moving to a quarterly payment at a rate of $0.01 per share per quarter ($0.04 per share annually).
- The new dividend policy will take effect following the payment of the $0.02/share dividend payable on Sept. 15, 2015 with the first quarterly payment expected to be paid on Dec. 15, 2015.
- PGH -7%.
Jun. 30, 2015, 10:08 AM
- Pengrowth Energy (PGH +1.6%) says it plans to sell up to C$600M in non-core assets by the end of the year, a move it says is part of its ongoing effort to strengthen its balance sheet.
- PGH also says construction and commissioning of its insulated sales line connecting the Lindbergh commercial facilities with the Husky pipeline has been completed on time.
- PGH says current production from the project is ~14.4K bbl/day; production ramp-up remains on track to achieve production rates of 16K bbl/day by year-end.
Jun. 9, 2015, 2:35 PM
- Pengrowth Energy (PGH +8.3%) shares are strong after the company reports production at its Lindberg thermal project in Alberta has exceeded its expected capacity of 12.5K bbl/day.
- PGH says the project is producing more than 13K bbl/day; installation of the remaining downhole electric submersible pumps was completed at the end of May, and all producing wells now have ESPs in place.
- PGH says production ramp-up remains on track and should reach around 16K bbl/day by the end of the year, with daily production ultimately reaching as high as 40K-50K bbl/day.
Feb. 26, 2015, 7:40 PM
- Pengrowth Energy (NYSE:PGH) +5.9% AH even as it posts $506M in net Q4 losses compared with a $91M loss in the year-ago quarter, and says it is deferring spending on the second phase of its Lindbergh oilsands project and cutting its dividend in half to protect its balance sheet.
- PGH wrote down $994M in the quarter, including a $451M writedown in the book value of the company’s assets, which it says was the result of the precipitous decline in oil prices.
- Says it had hedged ~75% of its 2015 estimated oil production at $93.96/bbl and 54% of its estimated gas production at $3.73/MMcf.
- PGH completed the first phase of Lindbergh oil sands project in Q4 but produced no oil from the facility, which is designed to produce 12.5K bbl/day.
- PGH earlier said it would reduce 2015 capital spending by 74% Y/Y to $200M.
Nov. 28, 2014, 9:17 AM
Jun. 24, 2014, 5:10 PM
- 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.
Jan. 16, 2014, 3:46 PM
- Pengrowth Energy (PGH +2.9%) says it plans to spend $715M in 2014, with $365M earmarked for its 12.5K bbl/day thermal in situ heavy oil project at Lindbergh, Alberta, and $350M on its non-thermal assets, primarily its Cardium light oil play.
- CEO Derek Evans says its growth plans include rail: The Lindbergh location means the steam-assisted gravity drainage project will be able to use pipeline or truck-and-rail options, and PGH can truck the crude to a rail loading terminal for $5/bbl.
- PGH expects production to fall to 71K-73K boe/day in 2014 from 75K-77K average during Q4.
- Capital spending of $700M in 2013 finished below the $770M budgeted.
Jul. 17, 2013, 11:13 AM
Pengrowth Energy (PGH +6.9%) surges after reopening for trade following the halt amid news its sold off more non-core assets, helping to fund the Lindbergh project. "Pengrowth moves down the risk ladder," comments SA's Albert Alfonso, who penned a bullish piece on the stock one week ago.| Jul. 17, 2013, 11:13 AM | 7 Comments
Mar. 1, 2013, 9:30 AM
Pengrowth Energy (PGH) gains 6.5% after announcing a 55% increase in 2012 year-end proved plus probable reserves. SA's Albert Alfonso just Wednesday expressed his frustration with the stock, suggesting the firm needs to consider strategic options if the market doesn't begin to properly price its assets.| Mar. 1, 2013, 9:30 AM
Mar. 1, 2013, 9:10 AM
Nov. 1, 2012, 11:44 AM
Pengrowth Energy (PGH +4%) reports record quarterly production of 94,284 boe/day in Q3, up 26% Y/Y, mainly attributable to a full quarter of volumes from its acquisition of NAL Energy, which added more than 35% to production. Production at its Lindbergh thermal pilot continues to exceed expectations, averaging ~650 bbl/day for each of two well pairs.| Nov. 1, 2012, 11:44 AM
Aug. 10, 2012, 5:36 PMPengrowth Energy Trust (PGH): declares $0.04/share monthly dividend, in line with previous. Forward yield 6.99%. For shareholders of record Aug 22. Payable Sep 17. Ex-div date Aug 20. Shares -1% AH. (PR) | Aug. 10, 2012, 5:36 PM | 4 Comments
Jul. 6, 2012, 10:59 AM
Calgary-based oil and gas producer Pengrowth Energy (PGH -4.5%) says it's PGH <font color=" target="_blank">cutting its monthly dividend by 43%, partly due to ongoing commodity-price weakness. The company, which earlier this year acquired rival NAL Energy, said it will pay a monthly dividend of 4 Canadian cents as of August 15, down from 7 Canadian cents currently.| Jul. 6, 2012, 10:59 AM