Pengrowth Energy Corporation (PGH) Announces Results for SAGD

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Pengrowth Energy Corporation (NYSE: PGH)today announced production data for its 100% owned Lindbergh Steam Assisted Gravity Drainage ("SAGD") pilot project near Bonnyville, Alberta, as well as significant reserve additions for the overall project.

In June, the two well pairs produced an average of 650 barrels of bitumen per day ("bpd") each, with an average Instantaneous Steam Oil Ratio ("ISOR") of less than 2.0, which is meaningfully better than the planned project design SOR of 3.5. Although this early performance is not necessarily indicative of longer term performance, the production and ISOR data is encouraging, with oil quality as expected, clean water being produced and no issues with either emulsion or produced sand.

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