Pengrowth Energy Trust Announces 2009 Year End Reserves
Investing News Network - March 10th, 2010
Pengrowth Corporation, administrator of Pengrowth Energy Trust (TSX:PGF.UN) (NYSE:PGH) reported its 2009 year end reserves information.
Pengrowth Corporation, administrator of Pengrowth Energy Trust (TSX:PGF.UN) (NYSE:PGH) reported its 2009 year end reserves information.
The press release is quoted as saying:
The total reserves decreased from 323.5 million barrels of oil equivalent (mmboe) in 2008 to 295.7 mmboe in 2009. The key factors for this decline were a 48 percent reduction in development capital expenditures in 2009 versus 2008, and a prudent capital budget that only represented 38 percent of operating cash flow.