Pengrowth Energy Corporation (TSX:PGF) said, “On March 5, 2019 Pengrowth's Board of Directors commenced the Strategic Review and engaged Perella Weinberg Partners LP and Tudor, Pickering, Holt & Co., LLC to explore the Company’s strategic options and alternatives with a view to improving the Company’s balance sheet, addressing upcoming debt maturities, and maximizing enterprise value. The Strategic Review is intended to explore a comprehensive range of strategic and transaction alternatives, including a sale, merger or other business combination; a disposition of all or certain assets of the Company; recapitalization and refinancing opportunities; sourcing new financing and equity capital; and other alternatives to improve the Company’s financial position and maximize value. In addition to Pengrowth’s long-life, low-decline assets, the Company also has potentially attractive tax attributes that complement its strong base operations. Pengrowth and its advisers expect to actively explore market interest in potential transactions and strategic initiatives with a range of interested parties and capital market participants.” There can be no guarantees as to whether the Strategic Review will result in a transaction or the terms or timing of any resulting transaction. Given the nature of the Strategic Review, Pengrowth does not intend to provide updates until such time as the Board of Directors approves a definitive transaction or strategic alternative, or otherwise determines that further disclosure is necessary or appropriate.