Quote:
Originally Posted by burn_this_city
Couple hundred million loss. I was surprised he invested, they didn't have enough production to achieve critical mass. I think you need close to 100kbpd to make a go as a SAGD operator.
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I don't agree with that. The company that bought them (Cona) has a bunch of little SAGD assets in Saskatchewan. The way lower SORs of these assets (and Lindberg is comparably very low) make them easier to operate at a lesser scale.
Pengrowth had some good assets. If they would have raised equity 3-4 years ago when their shares were higher to pay of debt I think they'd be fine right now.