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BREAKING- Pengrowth Energy Halted

UPDATE: According to a press release published at 3:37 p.m. EDT, Pengrowth Energy announced that it has entered into agreements for the successful completion of its $700 million non-core asset disposition program previously announced on January 11, 2013. The net proceeds from the disposition program will be used to fund ongoing capital expenditures, including fully funding the remaining budgeted capital expenditures associated with the 12,500 barrels per day (bbl/d) first commercial phase of the Lindbergh thermal project, which received regulatory approval on July 15, 2013.

Pengrowth Energy (NYSE: PGH) was halted around 3:30 Tuesday with news pending. The $2.7 billion dollar utility company engages in the acquisition, exploration, development, and production of oil and natural gas reserves in Canada, according to official information. The stock pays a 9.2 percent dividend and is up about 4 percent in the past six months.

The stock was up 2.24 percent prior to the halt.

We will update this story as more news becomes available.

[stock-tools exchange="NYSE" symbol="PGH" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

 

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