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Pengrowth Sells Cogeneration Power Plant to Frog Lake

Pengrowth Energy has announced that they have sold off a nearby cogeneration power plant to the Frog Lake Energy corporation, which is owned by the Frog Lake First Nations.

The company will pay off the 35 million dollar deal over 20 years. Frog Lake Energy says the move is an attempt at diversification after being hit hard by low oil prices. The company produces about 3,000 barrels a day.

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