Penn West closes sale of Slave Point, non-core assets


CALGARY, Alberta -- Penn West Petroleum has closed the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of approximately C$148 million, subject to closing adjustments. 

In addition, Penn West has closed about C$50 million of non-core asset sales of C$80 million. It has also entered into a definitive agreement to sell the remaining non-core assets for a cash consideration of C$30 million, subject to closing adjustments. The sale is expected to close in the second quarter. 

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