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Penn West to Divest Weyburn Unit Interest

Not Disclosed Penn West Petroleum Ltd.
AnnouncedOct 1, 2015
TypeProperty
Announced Date
October 01,2015
Effective Date
July 01,2015
Close Date
November 09,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
205




Snapshot
Asset/Basin:
{"Williston Basin"}
% Oil:
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Location
Region
Canada

Country
Canada

Production
Production
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

Penn West Petroleum Ltd. has announced that it has entered into a definitive agreement for the sale of its non-operated 9.5% working interest in the Weyburn Unit in Southeast Saskatchewan for cash consideration of $205 million, subject to closing adjustments customary in transactions of this nature.

We intend to use the proceeds from this disposition to reduce our senior debt. Upon the completion of the sale of our Weyburn Unit working interest, we will have raised approximately $810 million in total proceeds this year through our non-core asset disposition program.

David Dyck, Senior Vice…


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