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Pengrowth Lowers Spending for Remainder of 2015
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Pengrowth Energy Corporation has announced its financial and operating results for the three and six months ended June 30, 2015.
Outlook Lindbergh is expected to continue its ramp-up through the remainder of the year with exit production rates expected to reach 16,000 bbl per day by year-end. Despite the volatility that persists in the capital markets, the Company's commitment and action to strengthen and stabilize its balance sheet continues. A priority for the Company in 2015 is the reduction in overall corporate indebtedness and Pengrowth has targeted the sale of non-core assets of $600 million. Currently, the Company has two asset packages on the market and will provide an update on the progress of the sales in the coming months. It is expected that the successful completion of the…- ✓ Full news archive — U.S., Canada & international coverage
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