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Penn West Energy to sell central Alberta properties for $192.5M

Sep. 15, 2015 8:54 AM ETObsidian Energy Ltd. (OBE) Stock, OBE:CA StockBy: Carl Surran, SA News Editor13 Comments
  • Penn West Petroleum (PWE) agrees to sell its properties in the Greater Mitsue area of central Alberta for C$192.5M.
  • With the sale, PWE says it will have raised $605M in proceeds YTD through its non-core asset disposition program; since the end of Q2 2013, the company has divested ~34K boe/day of non-core assets for $1.7B in proceeds, which has reduced debt by ~$1.4B, or more than 40%.
  • The Mitsue properties averaged 4,500 boe/day of production during H1 2015.

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