Pengrowth Energy: A 7% Yield With Long-Term Upside

I will admit that Pengrowth Energy (NYSE: PGH) has been a disappointing investment as of late. The stock is down about $1 per share, or 15%, from its recent highs, with weak natural gas prices the most likely culprit. However, in terms of its operations, Pengrowth is doing well with Lindbergh related production growth slated for Q1 2015. Q2 2014 Overview On August 7, Pengrowth reported Q2 2014 results. Below are some of the key stats for the quarter: Production: 73,823 BOE/D FFO: $121.4 million FFO per share: $0.23 Oil and gas sales: $407.1 million Oil and gas sales per BOE: $60.60 Operating Expenses: $114.5 million Operating expenses per BOE: $17.05 Operating netbacks per BOE: $23.86 Pengrowth had a fairly good quarter overall. The company did see production dip slightly, down 2% Q/Q, mostly a result of planned maintenance. However, most of this work is now complete, which should add back... Read more