PGF meaning in Business ?

Answer:

What is Pengrowth Energy Trust mean?

Pengrowth Energy Corporation was a Canadian oil and natural gas company based in Calgary, Alberta. Established in 1988 by Calgary entrepreneur James S Kinnear, it was one of the largest of the Canadian royalty trusts ("Canroys"), with a market capitalization of US$4.12 billion at the end of 2007. Its assets were approximately evenly distributed between oil and natural gas.

Pengrowth's assets are in the Western Canada sedimentary basin, a geologic region which has a long history of productivity in crude oil and natural gas. In addition to the properties in western Canada, the company had assets in the Atlantic Ocean off of Nova Scotia. Pengrowth produced petroleum ranging from heavy crude oil to light oil, natural gas liquids, and natural gas. Proved reserves in 2006 were reported to be 200 million barrels (32,000,000 m3) of oil equivalent (boe) with an additional 160 million barrels (25,000,000 m3) of probable reserves. Average daily production in 2006 was 62,821 barrels per day (9,987.7 m3/d) (bpd) with a projected amount of 86,000 to 87,000 for 2007; figures verifying these totals should be released in early 2008 (those estimates for 2007 ended up being fairly accurate, that year Pengrowth produced 87,401 boe per day, the highest for any annual period between 2005 and 2009, also in 2007 natural gas made up the highest percentage for any of those years (51%)). In 2009 total production averaged 79,519 boe/d (29.0 million barrels for the year) of which 49,126 (61.78%) was natural gas related, 22,841 (28.72%) was crude oil and the rest 7,551 (9.50%) heavy oil.

Pengrowth Energy Trust paid a high dividend, yielding an annual rate of 15.9% in early 2008; in addition, it paid out monthly, a relative rarity for equities listed on the New York Stock Exchange. Since Pengrowth's assets were considered a depletable resource, its dividend payments were not taxed at the regular dividend rate, but rather as return of capital instead of return on investment; this is an additional tax advantage in the United States, and applies to all royalty trusts. However, in December 2015 the company suspended all dividends as it struggled to fund upcoming bond payoffs. In June 2018, the company was delisted from the New York Stock Exchange and changed its ticker symbol from PGH to PGHEF.

Scotiabank Saddledome, home to the Calgary Flames of the NHL, was known as Pengrowth Saddledome from 2000 until 2010 when Scotiabank took over their naming rights.

reference

Full Form	Category
Progressive Return Fund	Business
Pengrowth Energy Trust	Business
Patriot Green Fund	Business
Pay-out Guarantee Fund	Business
Putting God First	Community
Put God First	Community
Prime Gamer Force	Computing
Portland Group Fortran	Computing
Platelet Growth Factors	General
Peter Gabriel fan	General
Portable Grammar Format	General
Praise God First	General
Portland Garment Factory	General
Plymouth Gran Fury	General
Phenolic Glue Film	General
Portable Graphics Format	General
Pervy Gollum Fancier	General
Products Generator Files	General
Purchased Gas Factor	General
Pretty girl from	General
Precision Guided Firearm	General
Progressive graphics file	General
Pressure Gradient Force	General
Probability Generating Function	General
Placental Growth Factor	General
Premier Girls Fastpitch	General
Piping General Foreman	General
Patterson Gimlin Footage	General
Power Gear Force	Governmental
Political Group For Foreigners	Governmental
Production Globale des Facteurs	International
Paternal Grandfather	Medical
Rivesaltes, Perpignan, France	Regional
Precision Golf Forging	Sports