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Penn West

Address Penn West Plaza, Suite 200, 207 - 9th Avenue SW, Calgary, AB, T2P 1K3, CA
Phone 403-777-2500
Fax 403-777-2699
Toll free 1-866-693-2707
Website pennwest.com

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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.