Perpetual Energy Inc., trading on the OTC Markets under the symbol PMGYF, is a Calgary-based exploration and production company with a history dating back to the early 1970s. Originally focused on conventional heavy oil, the company has expanded its portfolio to include substantial holdings in the Montney shale gas play of northeastern British Columbia and western Alberta. Perpetual’s strategy balances stable cash flows from its legacy heavy oil assets with growth opportunities in liquids-rich gas development.
In the Montney region, Perpetual holds significant acreage and applies modern completion and production techniques to optimize recovery of gas, condensate and natural gas liquids. The company leverages horizontal drilling and multi-stage hydraulic fracturing to achieve cost-efficient production, while pursuing initiatives to reduce greenhouse gas emissions and water usage through water recycling and energy-saving technologies. These efforts reflect Perpetual’s commitment to operational excellence and environmental stewardship.
Perpetual’s heavy oil business is centered in the Lloydminster area of Alberta and Saskatchewan, where it employs cold heavy oil production with sand (CHOPS) and cyclic steam stimulation (CSS) methods. These thermal and pressure-maintenance projects benefit from existing infrastructure, local processing facilities and established pipeline access, providing predictable decline rates and moderate operating costs. This mature asset base underpins the company’s ability to generate cash flow across commodity price cycles.
Under the leadership of President and CEO Chris Wade and an experienced board of directors, Perpetual Energy has streamlined its asset portfolio, optimized capital allocation and pursued strategic partnerships to enhance long-term value. By integrating expertise in unconventional gas with proven heavy oil operations, the company is positioned to adapt to evolving market conditions and advance its growth agenda while maintaining a disciplined approach to sustainability and cost management.
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