Where Pengrowth is Now and Where We Are Growing
It's an exciting time to be in the oil and gas industry, with fascinating opportunities unfolding at Pengrowth. While maintaining our conventional assets, including Swan Hills light oil, Greater Olds / Garrington light oil and liquids-rich natural gas, we are turning our focus on further developing the Lindbergh Thermal Project, located in East Central Alberta, near Cold Lake.
Our operational expertise is in the Western Canadian Sedimentary Basin. We rely on our expertise to help offset production declines in our conventional oil and natural gas properties as well as develop new production in less mature properties. Our inventory of undeveloped land and opportunities provides future drilling opportunities for the short and mid-term. Our strategy is to build a sustainable dividend paying entity through the development of large accumulations of oil, bitumen and natural gas with low declines and low cost structures.
Our Vision is to Become a Growing Thermal Heavy Oil Producer
With our diverse geographical locations across the Western Canadian Sedimentary Basin and offshore Atlantic Canada, Pengrowth's current assets consist of an even balance between oil and gas. This balance allows for flexibility in fluctuating market conditions.