One-Page Deal Sheet
Pengrowth Sheds Non-Core Weyburn Assets
Not Disclosed Pengrowth Energy Corp
Announced Date
March 11,2013
Close Date
March 11,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
316
Transaction Details: Subscribe to see
Pengrowth Energy Corporation has completed the previously-announced divestiture of its non-core Weyburn asset.
Proceeds from the sale came in at approximately $316.0 million, net of interim closing adjustments. Proceeds will be used to repay all outstanding bank debt and will partially fund Pengrowth's 2013 capital program.
This leaves Pengrowth undrawn on its $1.0 billion credit facility and with approximately $1.6 billion of long-term debt outstanding, composed of long-term notes and convertible debentures.
As previously announced, Pengrowth is in the process of divesting additional assets…
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