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BRIEF-Pengrowth to sell Olds/Garrington area assets for $300 million

Published 2017-07-11, 08:15 a/m
© Reuters.  BRIEF-Pengrowth to sell its Olds/Garrington area assets for $300 mln
PGF
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July 11 (Reuters) - Pengrowth Energy Corp PGF.TO -

* Pengrowth enters into agreement for the sale of its Olds/Garrington area assets for $300 million

* Pengrowth Energy Corp sees 2017 average daily production 41,500 to 43,500 boe per day

* Pengrowth Energy Corp - Olds/Garrington area assets are expected to generate 2017 average daily production of 13,875 barrels of oil equivalent per day

* Pengrowth Energy Corp sees 2017 total capital expenditures $125 million

* Pengrowth Energy - entered agreement with a private company owned by a large Canadian life insurance co for sale of its Olds/Garrington area assets

* Pengrowth Energy Corp - purchaser of second Swan Hills sales package has indicated that it is unable to complete its financing for acquisition

* Pengrowth Energy Corp - has given notice of termination of sale agreement announced on March 20

* Pengrowth Energy Corp - Pengrowth will recommence its efforts to sell Swan Hills assets Source text for Eikon: ID:nCCNJqWka Further company coverage: PGF.TO

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