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Pengrowth Talks 2014 Spending; Touts Large Cardium Initiative
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Pengrowth Energy Corp. has unveiled its 2014 capital budget as well as its outlook for the year.
(slides from its 2014 corporate presentation are featured below)
Capital BudgetA summary of Pengrowth's 2014 operating and financial guidance is provided below:
The 2014 capital program will once again target the development of light oil and liquids-rich natural gas production, while continuing to invest in the commercial development of the Lindbergh project. Pengrowth has budgeted $350 million for non-thermal activities, mainly in the Greater Olds/Garrington area and on heavy oil assets in the Jenner and Bodo areas. The 2014 non-thermal budget will focus on projects with the highest rates of return, shortest payouts and maximum funds flow.
At Lindbergh, $365 million has been budgeted for…
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