Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Pengrowth Energy to sell Olds/Garrington assets for $300M

Published 07/11/2017, 08:38 AM
© Reuters.  Pengrowth Energy to sell Olds/Garrington assets for $300M
PGF
-
  • Pengrowth Energy (NYSE:PGH) agrees to sell its Olds/Garrington area assets in central Alberta to a private company for $300M.
  • PGH says YTD it has now closed or expects to close $827M of asset sales, which when combined with the $287M of cash on hand at year-end 2016, represents more than $1.1B in net debt reduction, or 66% of debt held at year-end; the company's year-end 2P reserves have been reduced by only 16%.
  • PGH also says the buyer of the second Swan Hills sales package is unable to complete its financing for the deal, forcing the company to terminate the sale agreement.
  • Now read: Pengrowth Energy - Avoid For The Foreseeable Future


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.