- Penn West Petroleum (PWE) agrees to sell its Viking light oil assets in Saskatchewan to Teine Energy for C$975M ($763M), as well as some of its assets in Alberta to unidentified buyers for ~C$140M.
- PWE says the sales bring the YTD total from asset dispositions to $1.3B, reducing pro forma net debt to ~$600M from $2.1B at year-end 2015; as a result, PWE expects to remain in compliance with all financial covenants for the current quarter through the rest of 2016.
- Reports earlier this week indicated that PWE had received at least four bids from companies for the Viking light oil assets.