Penn West Energy Trust

Published : June 09th, 2007

resumes partial production at its Wildboy property

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Dollar | K Street | Market | Natural Gas | Oil | Volatility |

Attention Business Editors:

Penn West Energy Trust (TSX - PWT.UN; NYSE - PWE) resumes partial production at its Wildboy property

     CALGARY, June 8 /CNW/ - Penn West Energy Trust ("Penn West") wishes to
report that, following a fire on May 13, 2007, it has successfully resumed
production of approximately 28 million cubic feet per day of natural gas at
its 100 percent owned Wildboy gas plant in Northern British Columbia. The
current production represents approximately 56 percent of the pre-fire level.
Penn West expects the remainder of the pre-fire natural gas production will
resume by October 2007, after the reconstruction of the gas plant tank farm
and adjacent equipment that was destroyed in the fire.
     Penn West carries both property and business interruption insurance for
the Wildboy gas plant that provides a $200 million limit subject to certain
deductibles. The dollar limit of the policy is expected to be sufficient to
cover all claims related to the fire. The deductible portion of the property
insurance is $500,000 and will be borne by Penn West in the reconstruction of
the facilities. The deductible portion of our business interruption insurance
is a period of 720 hours. As a result, the value of production lost from
May�13, 2007 to June 11, 2007 will be borne by Penn West. This portion of the
lost production is expected to reduce production and related operating margins
to be reported by approximately 2,400 barrels of oil equivalent, or
approximately two percent, in the second quarter of 2007 and approximately 600
barrels of oil equivalent per day, or approximately one-half of one percent,
in the 2007 calendar year. Subsequent to June 11, 2007, Penn West expects its
business interruption insurance will compensate for the dollar value of lost
production incurred between the expiration of the deductible period until such
time as full production is restored.
     Penn West Energy Trust is a senior oil and natural gas energy trust based
in Calgary, Alberta that trades on the Toronto Stock Exchange under the symbol
PWT.UN and on the New York Stock Exchange under the symbol PWE.
     Forward looking statements
     In the interest of providing Penn West's unitholders and potential
investors with information regarding Penn West, including management's
assessment of Penn West's future plans and operations, certain statements
contained in this document, including, without limitations, statements with
respect to the timing for the resumption of production, the sufficiency of our
insurance to cover all claims related to the fire, and production and
operating margin estimates, 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", "may", "will",
"project", "could", "plan", "intend", "should", "believe", "outlook",
"potential", "target" and similar words suggesting future events or future
performance.
     With respect to forward-looking statements contained in this document, we
have made assumptions regarding, among other things: future oil and natural
gas prices and differentials between light, medium and heavy oil prices;
future oil and natural gas production levels; future exchange rates; the
sufficiency of our insurance; construction timing; and our ability to obtain
all necessary approvals.
     Although Penn West believes 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 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 Penn West's 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. These risks and uncertainties include, among other
things: volatility in market prices for oil and natural gas; general economic
conditions in Canada, the U.S. and globally; demand for construction services;
unexpected construction delays; industry conditions, including fluctuations in
the price of oil and natural gas; royalties payable in respect of Penn West's
oil and natural gas production; changes in government regulation of the oil
and natural gas industry, including environmental regulation; fluctuations in
foreign exchange or interest rates; unanticipated operating events that can
reduce production or cause production to be shut-in or delayed; OPEC's ability
to control production and balance global supply and demand of crude oil at
desired price levels; political uncertainty, including the risks of
hostilities, in the petroleum producing regions of the world; the need to
obtain required approvals from regulatory authorities from time to time;
failure to realize the anticipated benefits of acquisitions, including the
merger with Petrofund Energy Trust and the Acquisition; and the other factors
described in Penn West's public filings (including our Annual Information
Form) available in Canada at www.sedar.com and in the United States at
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, Penn West does 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.
     %SEDAR: 00022266E
     %CIK: 0001334388
For further information: PENN WEST ENERGY TRUST, Suite 2200, 425 - First
Street S.W., Calgary, Alberta T2P 3L8, Website: www.pennwest.com, Toll-free:
1-866-693-2707, Phone: (403) 777-2500, Fax: (403) 777-2699; Investor
Relations: William Andrew, President and CEO, Phone (403) 777-2502, Toll-free:
1-888-770-2633, E-mail: investor_relations@pennwest.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$ 7.05-0.84%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$ 7.04-1.81%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 0.70-2.91%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.08-21.05%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.97+4.79%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$ 9.41+2.84%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.18-5.41%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.32+3.23%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$ 2.30+0.88%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 62.20+1.58%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$ 0.03+12.00%Trend Power :