Pengrowth’s property portfolio contains some of the highest quality assets in Canada’s energy trust sector with an average reserve life index of approximately 10 years on a proved plus probable basis. Our asset base is located across the Western Canadian Sedimentary Basin and offshore Nova Scotia. Pengrowth’s property portfolio is characterized by low decline rates and high development potential and is evenly balanced between natural gas and crude oil.

Pengrowth has varying interests in approximately 200 project area properties and operates approximately 62 percent of its production. We have historically targeted long life oil and natural gas in place properties with established production profiles and currently have positions in six of western Canada’s top nine large original-oil-in-place pools. This focus on large pools with substantial original oil-in-place adds significant value through lower than average decline rates when compared with our peers and is an area of significant development opportunity with the use of enhanced oil recovery techniques. As well, Pengrowth has lower concentration risk than the majority of its peers with our top ten producing wells representing only six percent of our overall production, significantly below our peer sector average and providing a higher level of stability to our production base.

Pengrowth’s strong suite of conventional assets is balanced by an expanding inventory of unconventional resource plays including coalbed methane and an oilsands interest. Our focus on maintaining a diversified asset base – geographical, commodity and play type – allows Pengrowth to successfully manage risk and provide a strong inventory of short, medium and long term opportunities for the trust.