According to recent insider filings, Pengrowth’s CEO
purchased 200,000 units in the open market this week at an average cost of $18.40 per unit –a cool $3.68 million.
The big question on investors’ minds these days is what will energy trusts look like in 2011 and beyond? The simple answer is,“probably like all other oil and gas companies.” While the change may not be instantaneous, Canaccord Adams believes that over time, most energy trusts will convert back to a corporate structure and will eventually blend in with the other Canadian intermediate and senior E&Ps. Some will gravitate towards a higher growth strategy while others will remain high dividend
Pengrowth’s average daily production in the first quarter was 82,711 boe/d.