Pengrowth Energy Corporation Reports Unaudited Consolidated Operating Results for the Fourth Quarter and Year Ended December 31, 2018; Provides Production Guidance for the Fiscal Year 2019
Daily production for 2018 of 22,025 was slightly below the low end of Guidance due to an unplanned power outage at Lindbergh in December and the deliberate reduction in Groundbirch production earlier in 2018 to maximize the value of its gas. Pengrowth production exited 2018 at 25,052 boe/d with Lindbergh production averaging 19,256 bbl/d in the final week of 2018 following resolution of the outage.
The company provided production guidance for the full year of fiscal year 2019. For the fiscal year 2019, the company expects average production of 22,500 to 23,500 boe/d. The company expects Lindbergh average production of 17,750 boe/d to 18,250 boe/d.