On Tuesday, Shares of Pengrowth Energy Corp (USA) (NYSE:PGH), remained flat at $2.59.
Pengrowth, reported that production from the Lindbergh thermal project now exceeds the project’s nameplate capacity of 12,500 barrels per day (bbl/d). With all three well pads now on SAGD (steam assisted gravity drainage) production, the project is presently producing in excess of 13,000 bbl/d with an instantaneous steam oil ratio of 1.9. Installation of the remaining downhole electric submersible pumps (ESPs) was accomplished at the end of May and all producing wells now have ESPs in place. Production rates from the commercial project continue to enhance, tracking the performance of the two pilot well pairs which have now been on production for over three years and which have been integrated into the commercial project. The project remains on track with continued ramp-up of production predictable through the remainder of 2015, ultimately achieving production rates of 16,000 bbl/d by the end of the year.
In addition, construction and commissioning of the Husky sales line is predictable to be accomplished by the end of June. The completion of the sales line will provide additional transportation/marketing optionality for the company. Pengrowth anticipates to utilize both pipeline and rail to move production to markets in an effort to maximize revenues and netbacks.
Pengrowth Energy Corporation engages in the acquisition, development, exploration, and production of oil and natural gas assets in the Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada. It primarily explores for crude oil, bitumen, natural gas, and natural gas liquids.
During an Afternoon trade, Shares of Century Aluminum Co (NASDAQ:CENX), climbed 0.53% to $11.41.
Century Aluminum, declared that a new, five-year collective bargaining agreement was ratified by the United Steelworkers Local 9423 on June 11, 2015 for the Company’s Hawesville, Kentucky smelter. The new contract is effective recently through April 1, 2020.
“We welcome this positive development for the smelter, its entire workforce and the community,” commented Mike Bless, CEO and John Hoerner, SVP North American Operations. “Century’s employees have always been and will always be a critical part of our success. We now look forward to working with everyone who shares our commitment to make the Hawesville plant the safest and most productive business it can be.”
Century Aluminum Company, together with its auxiliaries, produces primary aluminum in the United States and Iceland. It produces standard grade and value-added primary aluminum products; and carbon products, such as anodes and cathodes.
Finally, DISH Network Corp (NASDAQ:DISH), gained 0.43% Tuesday.
DISH Network Corp, declared that it designated Ben Weinberger as senior vice president and chief product officer. Weinberger is the former co-founder and CEO of Digitalsmiths. In his new role, Weinberger will oversee Sling TV’s product development and product administration. He will report to Sling TV CEO, Roger Lynch.
“Since Sling TV’s arrival four months ago, we have added more than 40 domestic channels and thousands of hours of on-demand titles,” said Roger Lynch, CEO of Sling TV. “This influx of programming makes it increasingly important that our content discovery process connects consumers quickly and seamlessly to the sports, shows and movies they love. Ben’s background makes him the ideal fit to lead our effort in creating a world class next-generation TV experience.”
DISH Network Corporation, through its auxiliaries, provides pay TV services in the United States. The company operates through two segments, DISH and Wireless. The company provides video services under the DISH brand.
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