Pengrowth Energy Trust

Infobox_Company
company_name = Pengrowth Energy Trust
company_
company_type = Public (nyse|PGH, tsx|PGH.UN)
company_slogan =
foundation = Calgary, Alberta, Canada (1988)
location = Headquarters in Calgary; oil, oil sands, and gas wells in British Columbia, Alberta, Saskatchewan, and offshore of Nova Scotia
key_people = Christopher G. Webster, CFO
industry = Oil and natural gas
products = Oil and natural gas; royalty trust
num_employees = 300 (2008)cite web |url=http://zenobank.com/index.php?symbol=PGH&page=quotesearch |title=Company Profile for Pengrowth Energy Trust (PGH) |accessdate=2008-10-09]
market c

homepage = [http://www.pengrowth.com/ www.pengrowth.com]

Pengrowth Energy Trust (tsx|PGH.UN, nyse|PGH) is a Canadian oil and natural gas royalty trust based in Calgary, Alberta. Established in 1988, it is one of the largest of the Canadian royalty trusts ("Canroys"), with a market capitalization of US$ 4.12 billion at the end of 2007. Its assets are approximately evenly distributed between oil and natural gas. [ [http://www.pengrowth.com/ops_overview_strategy.aspx Overview of Pengrowth assets] ] [ [http://www.dividenddetective.com/canadian_royalty_trusts.htm Article on Canadian royalty trusts at Dividend Detective] ]

Pengrowth's assets are in the Western Canada sedimentary basin, a geologic region which has a long history of productivity in crude oil and natural gas. In addition to the properties in western Canada, the company has assets in the Atlantic Ocean off of Nova Scotia. Pengrowth produces petroleum ranging from heavy crude oil to light oil, natural gas liquids, and natural gas. Proved reserves as of 2006 were reported to be convert|200|Moilbbl|m3 of oil equivalent (boe) with an additional convert|160|Moilbbl|m3 of probable reserves. Average daily production in 2006 was convert|62821|oilbbl/d|m3/d (bpd) with a projected amount of 86,000 to 87,000 for 2007; figures verifying these totals should be released in early 2008. [ [http://www.pengrowth.com/reserves.aspx Proved and probable reserves, as of 2006] ]

In addition to traditional oil and gas reservoirs, Pengrowth also is expanding its operations into oil sands and coalbed methane. [ [http://www.pengrowth.com/ops_overview_strategy.aspx Overview] ]

Pengrowth Energy Trust pays a high dividend, yielding an annual rate of 15.9% in early 2008; in addition, it pays out monthly, a relative rarity for equities listed on the New York Stock Exchange. Since Pengrowth's assets are considered a depletable resource, its dividend payments are not taxed at the regular dividend rate, but rather as return of capital instead of return on investment; this is an additional tax advantage in the United States, and applies to all royalty trusts. [ [http://online.wsj.com/public/quotes/main.html?symbol=PGH Wall Street Journal information page on PGH] ]

The Pengrowth Saddledome, home to the Calgary Flames of the NHL, is named after the company.

References and notes

External links

* [http://www.pengrowth.com/ Pengrowth Energy Trust website]