Past year: ▼ 93%(5.50c – 78.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Jan 2020business combination● NeutralMajor
Pengrowth announced the closing of its arrangement with Cona Resources Ltd., completing the acquisition that shareholders, secured debt holders and the court had approved in December 2019. Only the headline appears, so the price per share, what shareholders receive and whether their shares were cancelled are not shown. The headline gives the OTC listing of PGHEF alongside PGF, but the filing text does not say anything about delisting.
20 Dec 2019business combination● NeutralMajor
Pengrowth announced that it received court approval for the arrangement. This follows the Dec 18-19, 2019 shareholder and secured debt holder approvals of Cona's acquisition. Only the headline and a cover form appear, so the price, the treatment of shares and the closing date are not shown. Court approval does not by itself confirm the deal has closed.
19 Dec 2019business combination● NeutralMajor
Pengrowth's headline says shareholders and secured debt holders approved Cona's acquisition of the company and that a decision was received in a litigation matter. Only the headline is in the filing, so the price per share, the treatment of shares, closing conditions and the litigation outcome are not shown. Approval alone does not confirm the deal has closed.
25 Oct 2017debt financing● NeutralMajor
Pengrowth filed an amended and restated credit agreement dated October 12, 2017 with Royal Bank of Canada as agent, plus second amendments to its 2010 and 2012 note purchase agreements. The agreement now includes a security article (security on all assets), a swingline loan, and references to the 2018 notes (US$265M 6.98% and Cdn$15M 6.61%, due Aug 21, 2018) and Swan Hills and Groundbirch property schedules. The facility size, pricing and covenants are not visible in the excerpt.
11 July 2017asset acquisition disposition● NeutralMajor
Pengrowth entered into an agreement to sell its Olds/Garrington area assets for $300 million. Olds/Garrington was among the assets gained in the 2012 NAL combination. The buyer and closing date are not shown.
6 July 2017asset acquisition disposition● NeutralMajor
Pengrowth announced the closing of the Swan Hills asset sale, completing the agreement announced April 25, 2017 for $185 million. The closing amount is not stated in the filing text.
17 May 2017listing compliance notice▼ BadMajor
Pengrowth received another continued listing standard notification from the New York Stock Exchange. Only the headline appears, so the specific standard and any deadline are not shown. This follows the October 2015 NYSE notice about its share price.
25 Apr 2017asset acquisition disposition● NeutralMajor
Pengrowth entered into an agreement to sell its remaining Swan Hills assets for $185 million. The word 'remaining' implies an earlier Swan Hills sale (inference), which is not in the context. The buyer and closing date are not shown.
11 Apr 2017capital raising announcement● Neutral
Pengrowth announced that the $92 million Bernadet Montney asset sale has closed, completing the sale announced March 24, 2017.
24 Mar 2017asset acquisition disposition● NeutralMajor
Pengrowth announced the sale of its Bernadet Montney lands for $92 million. The buyer and whether the sale had already closed are not shown. The Montney lands are in the same area as the Monterey Groundbirch acquisition from earlier years, though the headline does not say they are part of it (inference).
20 Mar 2017asset acquisition disposition● NeutralMajor
Pengrowth reached an agreement to sell its North Central Alberta properties for $180 million. The buyer and closing date are not shown.
21 Feb 2017debt financing▲ GoodMajor
Pengrowth announced a plan to cut outstanding debt by $530 million, by retiring $127 million of convertible debentures and prepaying US$300 million of its 6.35% senior notes due July 26, 2017. The funding source is not shown in the filing.
14 Dec 2016asset acquisition disposition● NeutralMajor
Pengrowth announced the sale of a 4.0% gross overriding royalty interest on its Lindbergh thermal assets for $250 million. It sold a royalty interest rather than the asset itself; the buyer and use of proceeds are not shown.
31 May 2016regulatory community update▲ GoodMajor
Pengrowth received regulatory approval for the 17,500 barrel per day second commercial phase of its Lindbergh thermal project. This follows the July 2013 approval of the 12,500 bbl/d first phase. Approval does not itself say that the phase will be built or what it will cost.
25 Feb 2016security holder rights change● Neutral
Pengrowth announced a normal course issuer bid for its convertible debentures, which lets it buy back some of those debentures. The amount and price are not shown in the headline. These are the debentures that trace back to the NAL combination.
21 Jan 2016dividend declaration▼ BadMajor
Pengrowth announced a 2016 capital budget it calls prudent, an operational update, and a temporary suspension of its dividend. This ends the Cdn $0.02 monthly payments; the budget figures and how long the suspension lasts are not shown in the filing.
1 Dec 2015asset acquisition disposition● Neutral
Pengrowth announced that the sale of its Jenner area assets has closed. This completes the agreement announced October 23, 2015 for $80 million; the closing proceeds are not stated in the filing.
30 Oct 2015listing compliance notice▼ BadMajor
Pengrowth received a continued listing standard notification from the New York Stock Exchange about the price of its common stock. The headline gives no price figures or cure period, so the details are not shown.
23 Oct 2015asset acquisition disposition● NeutralMajor
Pengrowth announced an agreement to sell its Jenner area properties for $80 million and updated its asset disposition process, following the Bodo sale agreement earlier in October. The buyer and closing date are not shown.
6 Oct 2015asset acquisition disposition● NeutralMajor
Pengrowth announced an agreement to sell its Bodo property for $95 million and gave an update on its asset disposition program. Bodo was a polymer enhanced oil recovery asset gained in the 2012 NAL combination. The buyer, closing date and the program's other details are not shown.
1 Sept 2015dividend declaration▼ BadMajor
Pengrowth announced a new dividend policy that the headline says is meant to strengthen its balance sheet amid the current low commodity price environment. The details of the policy (amount, conditions) are not in the filing text, so the effect on the Cdn $0.02 monthly payment is not shown.
14 Aug 2015dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.02 per share cash dividend payable September 15, 2015, unchanged. Only the headline appears in the filing.
13 July 2015dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.02 per share cash dividend payable August 17, 2015, unchanged from the prior month. Only the headline appears in the filing.
13 May 2015dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.02 per share cash dividend payable June 15, 2015, the same level as the April payment, and announced executive appointments. Only the headline appears in the filing, so the names and roles are not shown.
2 Apr 2015debt financing● NeutralMajor
Pengrowth filed an amended and restated credit agreement dated March 30, 2015 for its extendible revolving credit facility, with Royal Bank of Canada as administrative agent and lenders including Bank of Montreal, Scotiabank, CIBC and TD. The visible text is the cover, table of contents and definitions; the facility size, pricing, covenants and maturity are not shown in the excerpt. This updates the syndicated facility that previously ran to Nov 29, 2015, though the new maturity is not visible.
10 Mar 2015dividend declaration▼ BadMajor
Pengrowth's headline confirms a Cdn $0.02 per share dividend payable April 15, 2015, half the Cdn $0.04 paid since August 2012, and gives an update on the Lindbergh commercial project. Only the headline is in the filing, so the reasons for the cut and the content of the Lindbergh update are not shown.
12 Jan 2015dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.04 per share dividend payable February 17, 2015, unchanged. Only the headline appears in the filing text.
11 Dec 2014dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.04 per share dividend payable January 15, 2015 and gave details for its 2015 Investor Day. Only the headline appears in the filing text, so the Investor Day date and details are not shown.
13 Nov 2014dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.04 per share dividend payable December 15, 2014, unchanged. Only the headline appears in the filing text.
9 Oct 2014dividend declaration● Neutral
Pengrowth confirmed a Cdn $0.04 per share dividend payable November 17, 2014, unchanged. Only the headline appears in the filing text.
