Penn West Sheds $485M In Assets As Part Of $2B Purge

Law360, New York (November 6, 2013, 2:25 PM EST) -- Oil and gas producer Penn West Petroleum Ltd. said Wednesday it is hammering out deals to divest a combined $485 million in assets in line with a strategic overhaul that calls for up to $2 billion in asset sales by the end of next year.

A committee formed by the Canadian company's board wrapped up its strategic review this week after a spending roughly five months shaping a long-range plan to cash in on oil and gas resource stores in western Canada and keep business strong....
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