Pengrowth Energy to sell Swan Hills properties for $180M

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

Pengrowth Energy (NYSE:PGH) agrees to sell some of its Swan Hills assets in Alberta to an unnamed buyer for $180M.

The divested assets generated average daily production of ~4,920 boe/day during Q4 2016.

PGH plans to use part of the sale proceeds to prepay the remaining outstanding $100M of bondsscheduled to mature this July 26; following the prepayment, PGH will have no outstanding debt maturities in 2017.

PGH says the sale will impact FY 2017 production guidance by ~3,100 boe/day, and now sees 2017 production of 47K-49K boe/day.