Whitecap Resources, Inc. (SPGYF) - 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
  • Aug. 21, 2014, 12:03 PM
    • Whitecap Resources (OTC:SPGYF +6.9%) agrees to acquire a controlling stake in a Niska light sweet oil pool in Alberta for ~C$267M, which it says will add 2,500 boe/day of production.
    • The purchase includes strategic facilities consisting of two oil batteries, water disposal infrastructure and pipelines which Whitecap says will be important for future low-cost production growth.
    • The company also plans to sell ~600 boe/day of non-core production for C$57M, and announces a 12% dividend hike to a monthly C$0.07/share.
    | Aug. 21, 2014, 12:03 PM
Company Description
Currently, there's no company description for SPGYF.
Industry: Major Integrated Oil & Gas
Country: Canada