Pengrowth Energy Corp was originally incorporated pursuant to the ABCA on October 4, 2010, as 1562803 Alberta Ltd. and changed its name to Pengrowth Energy Corporation on December 2, 2010. The Company is engaged in the development, production and acquisition of, and the exploration for, oil and natural gas reserves in the provinces of Alberta, British Columbia, Saskatchewan and Nova Scotia. The Company holds properties at Lindbergh, Swan Hills Area, Greater Olds/Garrington Area and Groundbirch. The Lindbergh property is located approximately 420 kilometres north east of Calgary, Alberta and 50 kilometres south of Bonnyville, Alberta. The Company has 100 percent Working Interest in the Lindbergh oil sands leases, located in the Cold Lake oil sands district in north-eastern Alberta and covering 20,800 net acres. The Company has varied Working Interests within the Swan Hills area in all of the key properties throughout the regional Beaverhill Lake resource base. These are both operated and non-operated, unit and non-unit properties in Judy Creek, Carson Creek, House Mountain, Deer Mountain, Swan Hills, South Swan Hills, and Freeman. The properties are located approximately 200 kilometres northwest of Edmonton, Alberta. The Olds property is located approximately 100 kilometres north of Calgary, Alberta. The Company's interests in this area include a 100 percent ownership in the Olds Gas Field Unit No. 1. In addition, it has a 86 percent average Working Interest in the adjacent non-unit reserves. The Olds Gas Field Unit No. 1 produces sour natural gas from the Wabamun Formation, with H2S concentrations ranging from less than one percent to 35 percent. The non-unit reserves are contained within formations from the Wabamun to the Edmonton group, and are predominantly sweet natural gas. Groundbirch property is located approximately 40 kilometres southwest of Fort St. John, British Columbia and covers an area of 13,855 gross (12,536 net) acres. It has an average 90 percent Working Interest in these lands. All phases of the oil and natural gas business present environmental risks and hazards and are subject to environmental regulation pursuant to a variety of federal, provincial and local laws and regulations.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.