OPERATING HIGHLIGHTS
2008
DAILY PRODUCTION Crude oil (barrels per day) 24,416 Heavy oil (barrels per day) 8,122 Natural gas (mcf per day) 240,825 Natural gas liquids (barrels per day) 9,315 Total production (boe per day) 81,991 TOTAL PRODUCTION (mboe) 30,009 PRODUCTION PROFILE Crude oil 30% Heavy oil 10% Natural gas 49% Natural gas liquids 11% (1) AVERAGE REALIZED PRICES (Cdn$) Crude oil (per barrel) $ 77.78 Heavy oil (per barrel) $ 75.77 Natural gas (per mcf) $ 8.19 Natural gas liquids (per barrel) $ 70.67 Average realized price per boe $ 62.76 PROVED PLUS PROBABLE RESERVES Crude oil (mbbls) 121,289 Heavy oil (mbbls) 27,728 Natural gas (bcf) 852 Natural gas liquids (mbbls) 32,442 Total oil equivalent (mboe) 323,463 OPERATING COSTS (2) Millions $ 418.5 $ Per boe $ 13.95 $ GENERAL AND ADMINISTRATIVE COSTS Millions $ 58.9 $ Per boe $ 1.96 $ MANAGEMENT FEES Millions $ 7.0 $ Per boe $ 0.23 $ ACQUISITION COSTS (3) Millions $ 148.2 $ Proved plus probable reserves acquired (mmboe) 10.0 Per boe $ 14.82 $ (1)
Realized prices include realized commodity risk management gains (losses)
(2)
Operating costs incurred to earn processing and other income are included
(3)
Acquisition costs include value of cash and trust units issued for acquisitions
2007 % Change 26,327 7,168 266,980 9,409 87,401 31,901
(7) 13 (10) (1) (6) (6)
30% 8% 51% 11% 71.88 44.53 7.29 58.86 53.90 124,188 21,792 870 28,994 319,921
8 70 12 20 16 (3) 27 (2) 12 1
406.5 12.74
3 10
55.9 1.75
5 12
6.8 0.21
2 10
1,035.9 65.1 15.91
(86) (85) (7)
PENGROWTH 2008 | Operating Highlights 3