Calgary-based Penn West Petroleum Ltd. has proposed that it change its name to Obsidian Energy Ltd. The conventional oil and natural gas producer holds strong positions in the Cardium, Alberta Viking and Peace River regions of Alberta.
|Address||Penn West Plaza, Suite 200, 207 - 9th Avenue SW, Calgary, AB, T2P 1K3, CA|
Penn West announces $1.1 billion in asset sales, including the sale of its Saskatchewan assets for $975 million
Penn West has entered into a definitive agreement for the sale of all of its Saskatchewan assets, including its Dodsland Viking area, for cash consideration of $975 million, subject to normal closing adjustments. The Saskatchewan assets are split approximately evenly between medium and heavy oil properties in the West and the Dodsland light-oil properties in the East. The purchaser is Teine Energy Ltd., a Viking producer backed by the Canada Pension Plan Investment Board.
Penn West Announces the sale of Slave Point and Non-core Assets for cash proceeds of approximately $230 million
Penn West Petroleum Ltd. has entered into a definitive agreement for the sale of its properties in the Slave Point area of Northern Alberta for cash consideration of $148 million, subject to closing adjustments customary in transactions of this nature.