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Pengrowth's Lingbergh gets huge upward revision in estimated reserves

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.

COURTESY PENGROWTH ENERGY

COURTESY PENGROWTH ENERGY

COURTESY PENGROWTH ENERGY

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.

Pressure restriction on Trans-Northern pipeline causes gas shortage in Ontario

Pressure restriction on Trans-Northern pipeline causes gas shortage in Ontario

Engineering salaries dip slightly in 2016 but layoffs and cutbacks largely over

Engineering salaries dip slightly in 2016 but layoffs and cutbacks largely over

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