Pengrowth at a Glance
We are an intermediate Canadian oil and natural gas producer with over 28 years of operating history. Headquartered in Calgary, Alberta, our asset base provides us with exposure to large oil-in-place conventional plays, large low-risk resource plays, and early-stage development plays. These assets include the Lindbergh thermal bitumen, Cardium light oil, Swan Hills light oil and Montney natural gas projects.
Our Strategy for Creating Value for our Shareholders
Our strategy is to build a sustainable entity through the development of large accumulations of oil, bitumen and natural gas. We aim to achieve this by using internally generated funds flow from our existing operations to support the development of a portfolio of low decline, long reserve life assets, designed to generate long-term growth in production and reserves.
Ensuring financial strength & flexibility
- Create and maintain a strong balance sheet by paying down debt
- Target large accumulations of oil, bitumen and natural gas
- Establish a balanced development profile between thermal and conventional opportunities, resulting in low cost, low decline, long life production
- Deploy new technologies to optimize results from existing conventional and thermal assets
Strive to be the most efficient operator
- Develop projects with the lowest total cost structure
- Focus capital spending within core areas
- Utilize multiple transportation options to move products and to maximize revenues
Our Corporate Strategy