Penn West revises 2014 guidance to include $175M in asset dispositions

|About: Penn West Petroleum Ltd. (PWE)|By:, SA News Editor

Penn West Petroleum (PWE) says it sees Q4 production of 124K boe/day and FY 2013 production of 135.1K boe/day in-line with earlier guidance.

PWE's 2013 exit production rate - based on field estimates and including the impact of previously announced divestments of ~10.8K boe/day and weather related and other operational curtailments of ~4.5K boe/day - was ~113K boe/day.

Sees FY 2014 production 101K-106K boe/day vs. earlier guidance of 105K-110K boe/day, reflecting additional non-core asset dispositions for expected proceeds of ~$175M.