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U.S. Securities and Exchange v. Penn West Petroleum Ltd. et al

  1. June 11, 2018

    Ex-Penn West Execs Can't Dodge SEC Accounting Fraud Suit

    Two former executives for Penn West Petroleum Ltd., now Obsidian Energy Ltd., can't duck the U.S. Securities and Exchange Commission's suit alleging they fudged the oil and gas producer's accounting records, a New York federal judge has said, finding there was an adequate showing of intent against them.

  2. November 15, 2017

    Obsidian Energy Reaches $8.5M Deal To Settle SEC Suit

    Obsidian Energy Ltd., the oil and gas producer formerly known as Penn West Petroleum Ltd., has agreed to pay an $8.5 million civil penalty as part of a deal to resolve the U.S. Securities and Exchange Commission's allegations of accounting fraud, the agency told a New York federal court Wednesday.

  3. September 05, 2017

    Penn West Execs Had No Motive To Cook Books, Court Told

    Attorneys for Penn West Petroleum Ltd. and two of its executives told a New York federal judge Tuesday that the men accused of cooking the Canadian oil and gas producer's books had no motive, because they would have received bigger bonuses had nine quarters of restated financial data been submitted properly in the first place.

  4. June 28, 2017

    SEC Hits Penn West With Accounting Fraud Charges

    The U.S. Securities and Exchange Commission on Wednesday filed accounting fraud charges against oil and gas producer Penn West Petroleum Ltd., saying that three of its former executives orchestrated a multiyear scheme that gave off a rosier than reality impression of Penn West's financial condition.