Pengrowth's Lingbergh gets huge upward revision in estimated reserves
Calgary-based Pengrowth Energy announced a 63% increase in the value of its Lindbergh property located just south of Cold Lake, AB. The increase reflects the government's recent approval of the Lindbergh expansion to 30,000 bbl/day and better than expected operational performance at its exiting commercial pilot facility.
P1 reserves were increased 43% to 147.9 billion barrels. P2 reserves were revised higher by 21% to 319.1 billion barrels.
Second quarter production at Lindbergh's commercial pilot averaged 15,500 bbl/day at an average steam-to-oil ratio (SOR) of 2.35. The original pilot plant produces about 1,350 bbl/day at comparable SORs.
The study was conducted by GLJ Petroleum Consultants.