Pengrowth Energy Corporation provided production and capital expenditure guidance for the year of 2013. For the period, the company plans to invest a total of $770 million to develop its focused set of oil and liquids-rich natural gas opportunities, including Lindbergh. The 2013 capital program will focus on maximizing cash flow to fund dividends, while investing significant long-lead capital related to Phase 1 of the low decline Lindbergh project.

The 2013 program will be funded by operating cash flow and proceeds from non-core asset dispositions, including the $315 million Weyburn disposition announced in December. The company expects its operations to generate funds flow of $680 million, about 14% more than forecast 2012 funds flow. The 2013 capital program includes $470 million for development activities targeting light oil and liquids-rich natural gas production, mainly in the Greater Olds/Garrington area, Swan Hills and south east Saskatchewan.

In 2013, the company will participate in drilling 82 net wells over and above any Lindbergh drilling. An additional $300 million will be spent at Lindbergh in 2013 as the company positions itself for growth in thermal oil production in 2014 and beyond. The company's 2013 capital program is designed to deliver average daily production volumes of between 85,000 and 87,000 boe/d, prior to the impact of any asset dispositions other than Weyburn.