| Type | Public (TSX: PRQ) |
|---|---|
| Founded | Calgary, Alberta, Canada |
| Headquarters | Calgary, Alberta, Canada |
| Key people | David D. Johnson, Chairman, Michael R. Culbert, President & CEO |
| Products | Oil & Natural Gas |
| Production output | 42,700 MBOE/day (Q4 - 2010) |
| Revenue | $390.741 million CAN (2010) |
| Employees | 129 |
| Website | www.progressenergy.com |
Progress Energy Resources Corp. (TSX: PRQ), is a natural gas weighted exploration and production company based in Calgary, Alberta, Canada. The company has a market capitalization of approximately C$3.0 billion.
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Progress is a C$3 billion exploration and production company focused on natural gas development in Western Canada. The Company's assets are concentrated in the Foothills of northeast British Columbia and the Deep Basin of northwest Alberta where it has built an enviable land, reserves and production base. The management of Progress brings extensive experience in building long-term value for shareholders through per share growth in underlying asset value. Progress Energy is listed on the Toronto Stock Exchange under the symbol (TSX: PRQ). Debentures trade under the symbols (TSX: PRQ.DB) and (TSX: PRQ.DB.A).
2001 - Progress Energy Ltd. was recapitalized by members of the current management team.
2004 - Production grows to over 10,000 bbl/d (1,600 m3/d) equivalent from zero; Progress merges with Cequel Energy Inc., to form Progress Energy Trust and ProEx Energy Ltd.; Current Progress management team operates both Progress and ProEx with base production of approximately 19,000 bbl/d (3,000 m3/d) equivalent.
2007 - Progress and ProEx acquire BG Group's Canadian assets in northeast British Columbia and northwest Alberta.
2009 - Progress and ProEx combine to form Progress Energy Resources Corp. with production of over 35,000 bbl/d (5,600 m3/d) equivalent
2010 - Progress acquires Suncor Energy's northeast British Columbia assets bringing total production to over 40,000 bbl/d (6,400 m3/d) equivalent
Current members of the board of directors of Progress Energy are: