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PGHEF - Pengrowth Energy Is For Sale But A High Premium Is Unlikely
Pengrowth Energy Corporation
With the Q4 results, Pengrowth (OTCQX:OTCQX:PGHEF) announced a strategic review because of its refinancing challenges.
The company is facing the consequences of dealing with high debt and some short-term maturities in the context of a depressed Canadian oil environment.
A sale of the company is one the possibilities. But the market valuation doesn't represent a bargain and other similar assets are already for sale. Thus, in the difficult Canadian oil environment, I don't see the potential for a high premium from an acquirer.