One-Page Deal Sheet
Penn West Petroleum Sells Southern Alberta Property
Not Disclosed Penn West Petroleum Ltd.
Announced Date
October 24,2014
Close Date
December 01,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
355
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Closing Announcement - December 1, 2014
Penn West Petroleum Ltd. has announced that it has successfully completed its previously announced divestiture of certain non-core assets located in south central Alberta for proceeds of approximately $355 million, subject to customary closing adjustments.
Proceeds from this transaction will be used to reduce outstanding indebtedness on the Company's credit facility. The Company has now completed non-core assets sales with total proceeds of approximately $1.05 billion since the announcement of the Company's Long-Term Plan in November 2013.
Penn West…
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