Penn West Energy Trust

Published : June 10th, 2016

Penn West Announces $1.1 Billion In Asset Sales, Including The Sale Of Its Saskatchewan Assets For $975 Million

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Penn West Announces $1.1 Billion In Asset Sales, Including The Sale Of Its Saskatchewan Assets For $975 Million

Transforms Penn West Into A Leading Alberta Oil Producer

CALGARY, June 10, 2016/CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE.BC) ('Penn West', the 'Company', 'we', 'us' or 'our') is pleased to announce that it has entered into a definitive agreement for the sale of all of its Saskatchewanassets, including its Dodsland Viking area, for cash consideration of $975 million, subject to normal closing adjustments. The Saskatchewanassets are split approximately evenly between medium and heavy oil properties in the West and the Dodslandlight-oil properties in the East. The purchaser is Teine Energy Ltd., a Vikingproducer backed by the Canada Pension Plan Investment Board.

This transaction, together with additional Albertaasset dispositions for proceeds of approximately $140 million, is expected to close in the second quarter. The total cash consideration from asset dispositions to date in 2016 is approximately $1.3 billion, reducing our pro forma Net Debt to approximately $600 millionfrom $2.1 billionat year-end 2015. As a result, we expect to be comfortably in compliance with all of our financial covenants at the end of the second quarter and the remainder of 2016.

'Saskatchewanis a coveted asset amongst many of our competitors and with this transaction we have capitalized on the demand for high-quality oil assets of scale', David Dyck, Senior Vice President and Chief Financial Officer of Penn West commented. 'This is a pivotal transaction for the Company. While we have made significant progress over the past three years in reducing our total debt, this asset sale results in a markedly improved capital structure and positions the Company in the top tier of our peers in terms of all significant debt metrics. Additionally, the sales metrics received are meaningfully above recent precedent transactions in the area and are very accretive to our shareholders.'

We expect to realize nearly $100 millionannually as a result of decreased interest expenses and significant reductions in G&A expenses through this transaction, which more than offsets the loss in net operating income associated with the Saskatchewanproperties.

The following are some of the key metrics and implied transaction multiples for the Saskatchewanproperties based on our full year 2016 forecast:

Production

13,650 boe/d

Operating Cost

$14.75/boe

Field Netback

$12.75/boe

2P Reserves

53 MMboe

Implied Production Multiple

$71,400/boe/d

Implied Net Operating Income (NOI) Multiple

15 times

Implied 2P Reserves Multiple

$18.40/boe

(1) Based on actual achieved commodity prices through May 2016 and C$60/bbl Edmonton Par for the balance of 2016

(2) Based on year-end 2015 working interest reserves

The effective date of the Saskatchewanassets sale is May 1, 2016and closing is expected to occur in the second quarter, subject to the receipt of all necessary regulatory approvals and the satisfaction of closing conditions customary in transactions of this nature.

In addition to the sale of its Saskatchewanproperties and through a series of transactions, Penn West sold other Albertaproperties for proceeds of approximately $140 millionwith associated 2016 production of 3,100 boe/d.

RBC Capital Markets acted as our exclusive financial advisor on these transactions.

Corporate Update and Transformation to a Leading Alberta Oil Producer
The sale of our Saskatchewanassets is a key element of our transformation strategy allowing us to streamline and high-grade the remainder of our portfolio to once again grow reserves, production and funds flow from operations at a profitable and measured pace.

'While the Dodsland Viking was an important contributor to Penn West's growth profile in recent years, this transaction will allow us to replace these largely mature assets by funding the more prospective and numerous growth opportunities in our Cardium and Alberta Viking positions; areas where we are more focused and more competitive', commented Dave Roberts, President and Chief Executive Officer of Penn West. 'We forecast that the combination of a concentrated asset portfolio, lower operating cost base, and reduced interest expense burden will allow us to grow the Company's production by approximately 10% annually well into the next decade, while still generating funds flow from operations in excess of our capital spending, at current commodity prices.'

As we continue to monetize our non-core assets over the balance of the year, our remaining operations will be focused in Albertaas follows:

  • Our redefined Cardium area will be focused on our unsurpassed land position encompassing 700 net sections and 1,500 drilling locations, or over 20 years of drilling activity. Our first quarter production in the Cardium area was approximately 19,500 boe/d with operating costs of $10/boe and netbacks of $17/boe. We expect the Cardium to continue driving profitable liquids growth through a combination of waterflood programs, infill drilling and new development for the foreseeable future. Recent production results from Cardium wells in both the Pembina and Willesden Green areas over the last two quarters continue to exceed expectations with production volumes meaningfully above historical type curves. Additionally, this transaction gives Penn West the financial flexibility to begin exploiting the multi horizon potential in our Cardium area. We hold approximately 500 net sections in the Belly River and Mannvilleformations that we believe are highly prospective. These plays will form part of our development strategy that we will be executing over the next several years.
  • In recent years our technical understanding of the Vikingplay has extended into Albertathrough an active farm-out program as well as the exploratory findings and strong production results from offsetting peers. In the Alberta Viking we see the opportunity to replicate our Dodslandexperience, with similar strong economics, but with much higher growth potential given the early stage life cycle of the play. While our Alberta Viking first quarter production was only approximately 1,000 boe/d, we expect this area will be an important focus of our 2017 development program and a key growth area in the foreseeable future. Our Alberta Viking position encompasses approximately 174 net sections and has over 500 potential drilling locations.
  • The Peace Riverarea is focused on our Peace River Oil Partnership (PROP) with our joint venture partner. We expect this area to remain a stable production and cash generation vehicle for the Company, as approximately 90% of our operating and capital costs are paid for by our partner. Our first quarter net production at Peace Riverwas approximately 5,000 boe/d, 98% weighted to crude oil, with operating costs of $1/boe. Additionally, we have had positive results from two thermal pilots in the area and we expect larger scale thermal recovery, in a higher crude oil environment, would allow meaningful recovery of the significant oil potential in our Peace Riveracreage.

(3) Net of partner carried operating costs

We are continuing to rationalize a number of remaining non-core assets throughout the remainder of the year. We have a number of ongoing asset sale processes, at various stages of completion, and anticipate divesting these remaining high-cost, largely negative net operating income, properties by year-end. Total remaining production expected to be sold is approximately 20,000 boe/d with a range of values expected at $100 million to $200 million. Importantly, these transactions will also reduce the Company's well count by approximately 5,000 wells and our asset retirement obligation by $200 million.

'Three years ago Penn West embarked on a path to create the most competitive conventional oil producer in Western Canada. The journey was perhaps longer and more difficult than anyone expected as we have experienced the worst crude oil crash in over a decade. We persevered and we can now see the most challenging time in our Company's history coming to a close. As a result of our actions, we will have reduced debt by over $2.8 billionin the last three years, dramatically lowered our cost structure and meaningfully improved our operational execution. We are very excited to open a new chapter as our focused Albertaoperations will create a top quartile Company with a strong and sustainable growth profile, operating costs of $10-$12/boe, and low leverage metrics', concluded Dave Roberts.

Our second half 2016 development program of $5-10 millionis focused on the Peace Riverarea, but we are actively monitoring opportunities to increase spending on optimization and base maintenance activities. We are also reviewing plans to ramp up spending and development activity in the second half of the year as commodity prices continue to strengthen. We will be formalizing our 2017 activity plans in the coming months to profitably grow our production and cash flows. We expect that we will be able to deliver a plan with improved efficiencies, lower costs, and meaningful reserve additions.

Guidance

We expect to provide updated corporate guidance and more details on our 2017 plan in the near future.

Conference Call and Webcast Details

A conference call and webcast presentation will be held to discuss the matters noted above at 10:00am MT(12:00pm ET) on Monday, June 13, 2016.

To listen to the conference call, please dial 647-427-7450 or 1-888-231-8191 (toll-free).

This call will be broadcast live on the Internet and may be accessed directly at the following URL: http://event.on24.com/r.htm?e=1207430&s=1&k=00666B2C392221137490F111C8534AA2

A digital recording will be available for replay two hours after the call's completion, and will remain available until June 24, 201621:59 Mountain Time(23:59 Eastern Time). To listen to the replay, please dial 416-849-0833 or 1-855-859-2056 (toll-free) and enter Conference ID 28666425, followed by the pound (#) key.

About Penn West

Penn West is a conventional oil and natural gas producer in Canada. Our goal is to be the company that redefines oil and gas excellence in western Canada. Based in Calgary, Penn West operates a significant portfolio of opportunities with a dominant oil position in the Cardium, Vikingand Peace Riverareas of Alberta.

Penn West shares are listed on the Toronto Stock Exchange under the symbol 'PWT' and on the New York Stock Exchange under the symbol 'PWE.BC'.

Oil and Gas Information Advisory

Barrels of oil equivalent ('boe') may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of crude oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is misleading as an indication of value.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements or information (collectively 'forward-looking statements') within the meaning of the 'safe harbour' provisions of applicable securities legislation. Forward-looking statements are typically identified by words such as 'anticipate', 'continue', 'estimate', 'expect', 'forecast', 'budget', 'may', 'will', 'project', 'could', 'plan', 'intend', 'should', 'believe', 'outlook', 'objective', 'aim', 'potential', 'target' and similar words suggesting future events or future performance. In addition, statements relating to 'reserves' or 'resources' are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and can be profitably produced in the future. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: our transformation into a leading Albertaoil producer, that the expected total cash consideration from asset sales (including the Saskatchewanassets) to date in 2016 to $1.3 billion, which reduces the pro forma Net Debt to approximately $600 millionfrom $2.1 billionat year-end 2015, that the sale transaction is scheduled to close in the second quarter (subject to the receipt of all necessary regulatory approvals and the satisfaction of closing conditions customary in transactions of this nature), the expectation to be comfortably in compliance with all of our financial covenants for the second quarter and for the remainder of 2016, the expectation to realize nearly $100 millionannually as a result of decreased interest expenses and significant reductions in G&A expenses through this transaction, which more that offsets the loss in net operating income associated with the Saskatchewanproperties, the key metrics and implied transaction multiples for the Saskatchewanassets based on our full year 2016, forecast that the sale of our Saskatchewanproduction and reserve base is a key element or our transformation strategy allowing us to streamline and high-grade the remainder or our portfolio to once again grow reserves, production and funds flow from operations at a profitable and measured pace, that this transaction will allow us to replace mature assets by funding more prospective and numerous growth opportunities in our Cardium and Alberta Viking positions, areas where we are more focused and more competitive, the forecast that the combination of a concentrated asset portfolio, lower operating cost base, and reduced interest expense will allow us to grow the Company's production by approximately 10% annually well into the next decade, while still generating funds flow from operations in excess of our capital spending, at current commodity prices, our continuing to monetize our non-core assets over the balance of the year and focusing our remaining operations in Albertawith: (1) in Cardium, the expectation to continue driving profitable liquids growth through a combination of waterflood programs, infill drilling and new development for the foreseeable future and the execution of the sale transaction gives Penn West the financial flexibility to begin exploiting the multi horizon potential in our Cardium area and using the Belly River and Mannvilleformations to form part of our development strategy that we will be executing over the next several years; (2) in the Alberta Viking, seeing the opportunity to replicate our Dodslandexperience, with similar strong economics, but with much higher growth potential given the early stage life cycle of the play, and the expectation that this area will be an important focus of our 2017 development program and a key growth area in the foreseeable future; and (3) in the Peace Riverarea, our expectation that PROP will remain a stable production and cash generation vehicle for the Company, that larger scale thermal recovery, in a higher crude oil environment, would allow meaningful recovery of the significant oil potential in our Peace Riveracreage, our belief that most challenging time in our Company's history is coming to a close, that we will have reduced debt by over $2.8 billionin the last three years, dramatically lowered our cost structure and meaningfully improved our operational execution that our focused Albertaoperations will create a top quartile Company with a strong and sustainable growth profile, operating costs of $10-12/boe, and low leverage metrics, our continuing to rationalize a number of remaining non-core assets throughout the remainder of the year, and anticipating divesting these remaining high-cost, largely negative net operating income, properties by year-end with total remaining production expected to be sold of approximately 20,000 boe/d with a range of values expected at $100 million to $200 million, that the transactions will reduce the Company's well count by approximately 5,000 wells and our asset retirement obligation by approximately $200 million, having the second half 2016 development program of $5-10 millionfocus on the Peace River Areabut actively monitoring opportunities to increase spending on optimization and base maintenance activities, reviewing plans to ramp up spending and activity in the second half of the year as the commodity prices continue to strengthen and formalizing our 2017 plans in the coming months to profitably grow our production and cash flows, the expectation that we will be able to deliver a plan with improved efficiencies, lower costs and meaningful reserves additions and updated corporate guidance and more details on our 2017 activity plan in the near future.

The key metrics and implied transaction multiples for the Saskatchewanassets set forth in this press release may be considered to be future-oriented financial information or a financial outlook for the purposes of applicable Canadian securities laws. Financial outlook and future-oriented financial information contained in this press release are based on assumptions about future events based on management's assessment of the relevant information currently available. In particular, this press release contains projected operational and financial information for 2016 for the Saskatchewanassets. The future-oriented financial information and financial outlooks contained in this press release have been approved by management as of the date of this press release. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than those for which it is disclosed herein.

Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations and assumptions will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Important factors that could cause actual results and events to differ from those described in the forward looking statements can be found in our public filings (including our Annual Information Form) available in Canadaat www.sedar.com and in the United Statesat www.sec.gov. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

SOURCE Penn West

For further information: PENN WEST, Penn West Plaza, Suite 200, 207 - 9th Avenue SW, Calgary, Alberta T2P 1K3; Phone: 403-777-2500, Fax: 403-777-2699, Toll Free: 1-866-693-2707, Website: www.pennwest.com; Investor Relations: Toll Free: 1-888-770-2633, E-mail: [email protected]

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Penn West Energy Trust

CODE : PWE
ISIN : CA7078871059
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Penn West Energy Trust is a and oil producing company based in Canada.

Penn West Energy Trust holds various exploration projects in Canada.

Its main exploration property is SWAN HILLS in Canada.

Penn West Energy Trust is listed in United States of America. Its market capitalisation is US$ 80.7 millions as of today (€ 73.8 millions).

Its stock quote reached its highest recent level on May 29, 2009 at US$ 9.98, and its lowest recent point on April 01, 2020 at US$ 0.15.

Penn West Energy Trust has 504 340 988 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Penn West Energy Trust
12/1/2011confirms closing of its private placement of notes and provi...
7/16/2008announces the pricing of a proposed private placement of Not...
5/30/2008Confirms the Closing Of Its Private Placement of Notes
6/1/2007confirms the closing of the private placement of notes
Nominations of Penn West Energy Trust
6/5/2013announces appointment of new President and Chief Executive O...
Financials of Penn West Energy Trust
5/16/2016Announces its Financial and Operational Results for the Firs...
11/5/2015Announces its Financial and Operational Results for the Thir...
7/30/2015Announces Its Financial And Operational Results For The Seco...
1/21/2014Provides Fourth Quarter, 2013 Operational Update and Announc...
11/6/2013Announces its Financial Results for the Third Quarter Ended ...
11/5/2009Announces Its Results for the Third Quarter Ended September ...
8/12/2009Results for the Second Quarter Ended June 30, 2009
2/19/2009announces its results for the fourth quarter ended December ...
1/29/2009announces an executive appointment and provides a fourth qua...
8/8/2008announces its results for the second quarter ended June 30, ...
5/13/2008Files its 2008 First Quarter Financial Statements
5/7/2008Announces its results for the first quarter ended March 31, ...
2/22/2008announces fourth quarter and year end results
5/7/2007announces first quarter results
Project news of Penn West Energy Trust
4/18/2016Announces the Closing of the Sale of Slave Point and Non-cor...
10/1/20156:32 am Penn West Energy agrees to sell its non-operated 9.5...
9/3/2013Exploration to Participate in Upcoming Conferences
8/23/2013Exploration Announces Employee Reductions
6/24/2013Exploration Issues Statement Regarding Produced Water Releas...
6/6/2013Exploration Announces Voting Results from the 2013 Annual an...
5/6/2013Exploration announces the appointments of Mr. Rick George as...
3/14/2013Exploration Confirms Filing of its 2012 Year End Disclosure ...
1/10/2013Exploration announces its 2013 capital budget
10/17/2012s Asset Dispositions and Results of Contingent Resources Stu...
6/15/2012Exploration Announces Renewal of Its Bank Facility
3/16/2012Exploration Confirms Filing of its 2011 Year End Documents
Corporate news of Penn West Energy Trust
7/27/2016Penn West Announces Conference Call Details to Discuss its R...
7/4/2016Regains Compliance with the New York Stock Exchange's Contin...
7/4/2016Penn West Regains Compliance with the New York Stock Exchang...
6/24/2016Penn West Announces the Closing of the Sale of Its Saskatche...
6/23/2016Penn West Announces Voting Results From the 2016 Annual and ...
6/21/2016Penn West Announces Competition Act Clearance to Complete Sa...
6/16/2016Penn West Announces Annual and Special Meeting of Shareholde...
6/10/2016Penn West Announces $1.1 Billion In Asset Sales, Including T...
5/16/2016Penn West Announces its Financial and Operational Results fo...
5/16/2016Penn West reports 1Q loss
5/3/2016Penn West Announces Conference Call Details To Discuss Its R...
4/18/2016Penn West Announces the Closing of the Sale of Slave Point a...
3/21/2016Penn West Announces the Sale of Slave Point and Non-core Ass...
3/10/2016Penn West reports 4Q loss
1/28/2016Penn West Announces Operational Update, 2016 Capital Budget ...
1/5/2016Penn West Receives Continued Listing Standard Notification F...
1/5/20166:32 am Penn West Energy receives non-compliance notice from...
12/23/2015Where Opportunity is Found - Research Reports on Xueda Educa...
11/28/2015Investors Are Losing Confidence In Black Box Corporation (BB...
11/25/2015Is Credit Suisse High Yield Bond Fund (ETF) (DHY) A Good Sto...
11/5/2015Penn West reports 3Q loss
11/5/2015Penn West says asset sales will help maintain debt covenant
11/5/20156:43 am Penn West Energy beats by $0.26, beats on revs
11/5/2015Penn West Announces its Financial and Operational Results fo...
10/1/2015Penn West Announces The Sale Of Its Non-Operated 9.5% Workin...
9/15/2015Penn West announces sale of Mitsue properties for $192.5 mil...
9/10/2015SolarEdge Technologies, Compania de Minas Buenaventura, Cres...
9/9/2015Caught by Oil's Steep Fall, Canadian Producers Cut Dividend
9/8/2015Penn West Receives Continued Listing Standard Notification F...
9/1/2015Penn West, ConocoPhillips cut combined 900 jobs in Canada
9/1/2015Penn West Petroleum lowers capex, suspends dividend, to cut ...
9/1/2015Penn West Announces Further Actions In Response To Current C...
7/30/2015Penn West Announces 2015 Third Quarter Dividend
7/30/2015Penn West Announces Its Financial And Operational Results Fo...
7/30/2015Penn West reports 2Q loss
7/23/2015Penn West Announces Conference Call Details To Discuss Its R...
4/22/2015Penn West Announces Conference Call Details To Discuss Its R...
4/15/2015Canada Stocks to Watch: Penn West, Freehold, Ballard and mor...
4/14/2015Canada's Penn West to sell land, royalties to Freehold for C...
4/14/2015Penn West Announces $321 Million Sale of Royalties
4/2/2015NYSE stocks posting largest percentage increases
3/17/2015Baupost Group Added Stake in Bellatrix Exploration
3/15/2015Penn West Announces its Financial and Operational Results fo...
3/12/2015Penn West Confirms Filing of its 2014 Year End Disclosure Do...
3/12/2015Penn West Announces 2015 First Quarter Dividend
3/12/2015Penn West Announces its Financial and Operational Results fo...
3/10/2015Penn West Announces Conference Call Details to Discuss its R...
1/19/2015Penn West to present at CIBC Whistler Institutional Investor...
12/17/2014Penn West Announces A Reduction in its 2015 Capital Budget a...
12/1/2014Penn West Announces the Closing of the $355 Million Non-Core...
11/17/2014Penn West Announces Details of its 2015 Capital Budget and L...
11/10/2014Penn West Announces Conference Call Details to Discuss its 2...
11/5/2014Penn West Announces 2014 Fourth Quarter Dividend
11/5/2014Penn West Announces its Financial Results for the Third Quar...
10/29/2014Penn West Announces Appointment of Mr. Raymond D. Crossley t...
10/28/2014Penn West Announces Conference Call Details to Discuss its R...
10/23/2014Penn West Announces $355 Million Non-Core Asset Disposition
7/30/2014Twitter and DreamWorks are big market movers
4/24/2014Penn West Announces Conference Call Details to Discuss its R...
12/20/2013Announces the Closing of $486 million of Non-Core Asset Dive...
11/6/2013Announces 2013 Fourth Quarter Dividend
11/6/2013Announces the Results of its Board Strategic Review Process,...
8/8/2013Exploration Announces its Financial Results for the Second Q...
8/8/2013Exploration Announces 2013 Third Quarter Dividend
8/8/2013Exploration Announces Results of Contingent Resources Studie...
7/5/2013Exploration announces the resignation of Mr. Allan Markin
5/2/2013Exploration announces its financial results for the first qu...
5/2/2013Exploration Announces 2013 Second Quarter Dividend
2/14/2013Exploration Announces 2013 First Quarter Dividend
2/14/2013Exploration Announces its Financial Results for the Fourth Q...
11/6/2012Announces Changes in Senior Management
11/2/2012Exploration Announces Its Financial Results for the Third Qu...
10/19/2012Provides 2012 Investor Day Webcast Playback
8/10/2012Exploration Announces its Financial Results for the Second Q...
5/4/2012Exploration announces its financial results for the first qu...
2/16/2012Exploration Announces its Financial Results for the Fourth Q...
1/30/2012North American Oil and Gas Boom Benefits Linn Energy and Pen...
5/26/2011Exploration ("Penn West") Provides Update on Wildfires in No...
4/30/2010 Announces The Renewal of Its Bank Facility
2/19/2010Confirms February Cash Distribution
12/21/2009Confirms December Cash Distribution
11/20/2009 Confirms November Cash Distribution
9/18/2009 Confirms September Cash Distribution
5/21/2009Confirms May Cash Distribution
3/10/2009enters into an arrangement agreement to acquire Reece Energy...
2/19/2009confirms February cash distribution
2/12/2009provides 2008 income tax information to Penn West unitholder...
1/15/2009announces 2009 capital program guidance and January cash dis...
12/17/2008confirms December cash distribution, provides spending guida...
11/18/2008confirms its November cash distribution
9/19/2008confirms its September cash distribution
8/27/2008announces disposition offering of non-core properties
8/20/2008confirms its August cash distribution and announces receipt ...
7/22/2008and Endev Energy Inc. Announce the Completion of Previously ...
6/19/2008Files Prospectus Supplement
5/26/2008Announces Proposed Clarifying Amendments to Long Term Incent...
5/21/2008enters into an Arrangement Agreement to acquire Endev Energy...
5/21/2008Confirms its May Cash Distribution
5/1/2008Penn West Energy Trust
4/18/2008 Confirms its April Cash Distribution
3/28/2008 Files 2007 Year End Disclosure Documents
3/20/2008Confirms its March Cash Distribution
3/6/2008 Announces Closing of Offer to Purchase 7.2 Percent and 8.0 ...
2/26/2008provides 2007 income tax information for former Vault unitho...
2/22/2008Confirms its February cash distribution and updates on hedgi...
2/8/2008Announces Changes to its Senior Management Team
2/1/2008provides 2007 income tax information for former Canetic unit...
1/29/2008Announces Offers to Purchase 7.2 percent and 8.0 percent Con...
1/22/2008Confirms its January Cash Distribution
1/10/2008Announce the Closing of Penn West's Acquisition of Vau
1/10/2008 Announce Vault Unitholder and Court Approval of Acquis
10/31/2007 and Canetic to merge and create Canada's flagship energy tr...
10/22/2007 confirms its October cash distribution and updates on hedgi...
9/19/2007provides an update on the acquisition of C1 Energy Ltd. and ...
9/7/2007announces further extension of offer for shares of C1 Energy...
8/21/2007Trust announces August cash distribution
8/10/2007Announces the extension of the Distribution Reinvestment Pla...
7/23/2007Announces Acquisition of 79.6% of C1 Energy Ltd. Common Shar...
7/18/2007announces July cash distribution
6/21/2007Announces June Cash Distribution
6/9/2007resumes partial production at its Wildboy property
6/1/2007and C1 Energy Ltd. announce a take-over bid for C1 Energy Lt...
5/23/2007announces May cash distribution
5/15/2007Responds to a Fire at its Northern British Columbia Gas Plan...
4/20/2007announces April cash distribution and 2008 crude oil hedges
3/19/2007announces March cash distribution
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
NYSE (PWE)
0.160-5.88%
NYSE
US$ 0.160
04/01 15:59 -0.010
-5.88%
Prev close Open
0.170 0.180
Low High
0.160 0.180
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.160 -%
Volume 1 month var.
356,229 -%
24hGold TrendPower© : -25
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2020-76.81%0.950.15
201991.67%1.340.26
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.99+0.87%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 6.25-4.14%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70-3.97%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06-13.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.14+2.88%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.71-0.10%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.20-6.98%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.34-1.45%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.08-2.80%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.85-0.16%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.02+0.00%Trend Power :