- Penn West Petroleum (PWE) agrees to sell a number of non-core assets in Alberta to a private company for ~$355M.
- The assets currently produce ~7.5K boe/day, less than 5% of PWE's proved and probable reserve base of ~625M boe.
- PWE reiterates 2014 production guidance of 101K-106K boe/day, but now expects full-year average volumes above the mid-point of the range, reflecting better than expected performance in base production and strong growth from development programs in each of its three core light oil areas.