Progress Energy Trust

Progress Energy (TSX: PGX.UN, is a natural gas weighted exploration and production trust based in Calgary, Alberta, Canada. The Trust has a market capitalization of approximately $1.4 billion.

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Profile

Progress Energy employs technical oil and gas expertise within the trust. Operations are primarily focused in the foothills and plains of northeast British Columbia and the deep basin of northwest Alberta.

Progress Energy is targeting sustainable reserves and production per trust unit through the utilization of its technical capability and capital investment. Production is expected to be maintained or modestly grown through the reinvestment of approximately 30% of cash flows while distributing the balance to unitholders monthly.

Progress Energy Trust is listed on the Toronto Stock Exchange under the symbol (TSX: PGX.UN. Exchangeable Shares of Progress Energy Ltd. trade under the symbol (TSX: PGX. Convertible Debentures trade under the symbol (TSX: PGX.DB.

Corporate governance

Current members of the board of directors of Progress Energy Trust are: David D. Johnson, Donald F. Archibald, John A. Brussa, Frederic C. Coles, Howard Crone, Michael R. Culbert, and Gary E. Perron.

See also

• Oil
• Gas
• Oil well
• Drilling
• OPEC
• List of oil-producing states