Pengrowth Energy Corporation is 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 are 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 has assets in the Atlantic Ocean off of Nova Scotia. Pengrowth produces petroleum ranging from heavy crude oil to light oil, natural gas liquids, and natural gas. Proved reserves as of 2006 were reported to be 200 million barrels (32,000,000 m) of oil equivalent (boe) with an additional 160 million barrels (25,000,000 m) of probable reserves. Average daily production in 2006 was 62,821 barrels per day (9,987.7 m/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.

In addition to traditional oil and gas reservoirs, Pengrowth also is expanding its operations into oil sands and coalbed methane.

Pengrowth Energy Trust pays a high dividend, yielding an annual rate of 15.9% in early 2008; in addition, it pays out monthly, a relative rarity for equities listed on the New York Stock Exchange. Since Pengrowth's assets are considered a depletable resource, its dividend payments are 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. In December 2015 the company suspended all dividends as it struggles to fund the upcoming Bond payoffs.

The Pengrowth Saddledome, home to the Calgary Flames of the NHL, used to be named after the company until 2010 when Scotiabank took over there naming rights. Scotiabank also formerly sponsored Scotiabank Place, which is home of the Ottawa Senators. In 2013, the arena was renamed Canadian Tire Centre.