Penn West shrinking to grow after staff exits
Penn West Petroleum Ltd., the worst performing oil and natural gas stock among its Canadian peers this year, may sell more assets and forgo higher output to cut costs after the ouster of four executives
View ArticlePenn West Petroleum to cut jobs, dividend as CEO steps down
Penn West Petroleum Ltd., the third-worst performing Canadian oil and gas producer in the past year, said Murray Nunns will step down as chief executive officer as the company cuts costs and considers...
View ArticlePenn West to reallocate capital to Alberta oil fields
Penn West Petroleum Ltd will reallocate $87-million capital to its Cardium and Viking oil plays in central Alberta as part of a drive to boost efficiency and develop existing asset
View ArticlePenn West Petroleum stock soars 40 per cent after company sells one of its...
Penn West, struggling with debt, was upgraded to outperform at Raymond James after announcing the sale of its Saskatchewan assets, including those in the Dodsland Viking area
View ArticlePenn West Petroleum Ltd to boost capital spending by 80 per cent
The company has been selling off assets and using the proceeds to pay down net debt down from $2.1 billion in 2015 to $491 million
View ArticlePenn West Petroleum downsizes, changes name in hopes of turning page on...
Where Penn West operated in 30 areas, employed 2,000 people and had 15 executives, Obsidian will operate in three areas, employ 300 people and has cut its executive team to five.
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