PENGROWTH ENERGY $0.50 (Toronto symbol PGF; Shares o/s: 547.4 million; Market cap: $280.0 million; TSINetwork Rating: Speculative; No dividends paid; www.pengrowth.com) has two main properties: its Lindbergh oil sands project in Alberta and its Groundbirch natural gas property in northeastern B.C.
Pengrowth’s average output in the three months ended March 31, 2019, rose 16.5%, to 22,764 barrels a day (82% oil and liquids, 18% natural gas) from 19,541 barrels a year earlier. That’s mainly due to 20.3% higher production at the Lindbergh project.
The extra output helped offset lower oil and gas prices. As a result, the company’s revenue in the quarter rose 1.0%, to $122.7 million from $121.5 million. Cash flow jumped to $0.03 a share from $0.01.
Pengrowth has now launched a strategic review of its operations. That could include the sale of some of its properties, or perhaps the entire firm.
Pengrowth is still a hold, but only for highly aggressive investors. investors…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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