Raging River Exploration Inc. (RRENF) - Grey Market
  • Wed, Jun. 8, 12:49 PM
    • Penn West Petroleum (PWE +9.9%) has received at least four bids from companies for its Viking light oil assets which could fetch more than C$500M ($395M), Reuters reports.
    • Bidders include Raging River Exploration (OTC:RRENF), Crescent Point Energy (NYSE:CPG), Whitecap Resources (OTC:SPGYF) and Teine Energy, according to the report; all four bidders have a presence in the Viking area of Saskatchewan, a light oil region that is attractive to energy producers because of its low costs to recover crude and competitive production costs.
    • PWE's Viking assets, which produce nearly 20K boe/day, are important to the company, and its willingness to sell them highlights the company's financial pressure over its large debt burden.
    | Wed, Jun. 8, 12:49 PM | 62 Comments
Company Description
Industry: Oil & Gas Drilling & Exploration
Country: Canada