Pengrowth Energy releases Sept. 30 NI 51-101 reserves
PENGROWTH ENERGY Corp. has released its reserves values effective Sept. 30, 2018, based on an independent engineering evaluation conducted by GLJ Petroleum Consultants Ltd. using the GLJ Oct. 1, 2018, price forecast and prepared in accordance with National Instrument 51-101 and the Canadian Oil and Gas Evaluation Handbook (COGEH). All evaluations and summaries of future net revenue are stated prior to provision for interest, debt service charges, or general and administrative expenses and after deduction of royalties, operating costs, estimated well abandonment and reclamation costs, and estimated future capital expenditures. The information included as “NPV 10" in the attached tables represents the net present values of future net revenue before income taxes at a 10-per-cent discount rate, based on an average of pricing assumptions prepared by GLJ. It should not be assumed that the estimates of future net revenues presented in the attached tables represent the fair market value of the reserves. Key highlights:
• Lindbergh and Groundbirch represent 99 per cent of Pengrowth’s company interest proved and probable reserves with the following breakdown:
• Lindbergh (bitumen) represents 70 per cent;
• Groundbirch (natural gas) represents 29 per cent.
• Total proved and probable reserves increased 1 per cent to 449 million barrels of oil equivalent.
• NPV 10 of total proved and probable reserves increased 20 per cent to $2.6-billion.
(See PGF Table 1 on page 22)
(See PGF Table 2 on page 22)
(See PGF Table 3 on page 22)
About Pengrowth Energy Corp.
Pengrowth Energy is a Canadian energy company focused on the sustainable development and production of oil and natural gas in Western Canada from its Lindbergh thermal oil property and its Groundbirch Montney gas property.
Wayne Kim Foo, Kelvin B Johnston, James Douglas McFarland, Albert Terence Poole, Peter D Sametz, Donald Michael Godfrey Stewart
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