Advisory continued Caution regarding production and reserves information Pengrowth has adopted the standard of six thousand cubic feet of gas to one barrel of oil (6 Mcf: 1 bbl) when converting natural gas to BOEs, and one barrel of oil…
The New Pengrowth The transition at Pengrowth is well underway Corporate conversion complete We have made substantial progress on all fronts Financial, assets and people Lots of opportunity still remains On our own asset base In…
Pengrowth Energy Corporation Re-thinking how we operate Started asset transition from conventional to unconventional assets Identified unconventional opportunities on existing land base Asset rotation through acquisitions and…
What are we focusing on today to create value for our shareholders Inventory Development Historical drilling inventory was one-well wonders In 2010 we went to work to understand our organic drilling inventory Created an…
Oil Focused Drilling Inventory Wells DCET Cost Typical Metrics Likely Possible Likely Possible Prod Cost Reserve Cost Play number number million million /boe/d /boe Reef Gas Condensate 9 53 40 235 13,200 15.20 Swan Hills Reef Oil 5…
What is Nut Cracking Applying technology such as horizontal drilling and multi- stage fracing to a known hydrocarbon accumulation to achieve economic production The value proposition: Production multiple exceeds cost multiple of…
2011 Capital Allocation An Oily Focus Area 2011 12 Month Add + Promote Recycle Operated Capital Production Cost(1) Cost(2) Ratio(3) (million) (/boe/d) (/boe) (/) Swan Hills 107 20,700 17.27 2.0 Groundbirch 55 14,250 7.19 1.0…
Lindbergh SAGD Project 2 Well pair Pilot Application amendment submitted 1,200 bbl/d First Proof of to ERCB and AENV December 2010 Pilot Production Concept Construction First Regulatory Steam approval Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
Judy Creek CO2 Pilot has confirmed recovery Economically Challenged Pilot Results CO2 Supply Cost CO2 Injected Amount, mmcf 1,200 Government Take including Bank size, % 26.2% royalties Recovered CO2, % of injected 24% Other…
Have We Got What It Takes We have the key elements required for value creation An expanding drilling inventory Technical strength A focused capitalization approach Financial strength and discipline Pengrowth Energy…
Appendix: 2011 Guidance 2011 Guidance Capital Budget 400 Million Production (Boe/d) 74,000 to 76,000 Operating Costs 13.54 per Boe General & Administrative 2.69 per Boe Volume/day Crude oil (bbl per day) 29,000 Natural Gas Liquids…