Deal Insight

Penn West Exploration sells all its Saskatchewan assets to Teine Energy for US$767 million

From

$1,650.00

You can pay by card or invoice

From

$1,650.00

You can pay by card or invoice

Get this Deal Insight as part of a subscription

Enquire about subscriptions

Already have a subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

Report summary

Penn West is selling all of its Saskatchewan assets, including its Dodsland Viking properties, for cash consideration of US$767m. This price represents a small discount to the value that Wood Mackenzie places on these assets. The assets currently produce approximately 13,610 boe/d (87% liquids). The purchaser is Teine Energy Ltd., a pure play Viking producer backed by the Canada Pension Plan Investment Board. In a separate transaction, Penn West concurrently announced the sale of non-core assets for US$110m. Significant capital constraints prohibited Penn West from rapidly developing its Saskatchewan assets. We believe that an established and well capitalised Viking producer like Teine is a strong candidate to develop these assets sooner. It is likely that they will realize significant cost saving synergies by adding these assets to its existing Viking portfolio and infrastructure network.

What's included

This report contains

  • Document

    Penn West Exploration sells all its Saskatchewan assets to Teine Energy for US$767 million

    PDF 640.51 KB

Table of contents

Tables and charts

This report includes 9 images and tables including:

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

Images

  • Penn West Viking Production/Cash Flow
  • Penn West Well Locations

Questions about this report?

  • Europe:
    +44 131 243 4400
  • Americas:
    +1 713 470 1600
  • Asia Pacific:
    +65 6518 0800