Pengrowth Energy Corporation announced that, in conjunction with the July 12, 2013 Alberta Environment Protection and Enhancement Act (EPEA) approval of the first commercial phase of the Lindbergh thermal bitumen project (Lindbergh), GLJ Petroleum Consultants Ltd. (GLJ) has provided an update of bitumen reserves and contingent resources for Lindbergh.

The July 15, 2013 update, effective July 31, 2013, results in the reclassification of 69.2 million barrels (MMbbl) of probable reserves to the proved (1P) category and an increase of 48.1 MMbbl in proved plus probable (2P) reserves, based upon receipt of regulatory approvals, continued delineation drilling and new 3D seismic data.

GLJ attributed 82.0 MMbbl of 1P reserves and 142.9 MMbbl of 2P reserves to the Lindbergh project. The additional proved reserves at Lindbergh represent an increase of 541 percent from December 31, 2012, while 2P reserves increased by 51 percent.

Tags: Pengrowth Energy Trust