Pengrowth completes first turnaround at Lindbergh and makes progress on expansion
Pengrowth Energy says its Lindbergh thermal in-situ facility suffered "significant production downtime" in the third quarter, blamed on its first-ever major maintenance turnaround of the plant's central processing facility.
The SAGD facility averaged 12,086 bbl/day in Q3 at an average steam-to-oil ratio (SOR) of 2.9. Production has since stabilized at about 14,500 bbl/day at an average SOR of 2.6.
Pengrowth says it plans to drill three additional well pairs in the fourth quarter, which will bring new production online next year. Once the new wells are fully operational, total production is expected to rise to 17,000 bbl/day.
The company also says engineering and design work relating to the second expansion phase at Lindbergh will be 70% complete by year end. Phase 2 has an estimated price tag of $600 million for an additional 20,000 bbl/day of production capacity.
Breakeven prices at Lindbergh are reported to be about US$46 per barrel.
PENGROWTH ENERGY PENGROWTH COMPLETES TRANSFORMATION INTO THERMAL OIL AND MONTNEY GAS FOCUSED COMPANY
PENGROWTH ENERGY CORPORATE PRESENTATION: OCTOBER 2016