Pengrowth Energy Closes ExxonMobil Canada Asset Acquisition

Pengrowth Energy Trust, Calgary, (Toronto: PGF-UN; NYSE: PGH) has closed the acquisition of an average 89%-operated working interest in properties in the Carson Creek area of Alberta from ExxonMobil Canada Energy, a subsidiary of ExxonMobil, Irving, Texas, (NYSE: XOM) for C$475 million. The properties are 20 kilometers south of Pengrowth's Swan Hills and Judy Creek focus areas and include the Carson Creek Gas Plant. Production is 5,100 barrels of oil equivalent per day (68% oil and gas liquids), with proved reserves of 15.5 million barrels equivalent and proved-plus-probable reserves of 19 million barrels equivalent (93% producing). Pengrowth will also receive additional beneficial ownership of gross overriding royalties and working interests in non-unitized zones and lands in the area surrounding Carson Creek.