Penn West sells Saskatchewan assets for $975 million to Teine Energy

Sat Jun 11, 2016 2:19pm EDT
 
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(Reuters) - Canadian energy producer Penn West Petroleum Ltd (PWT.TO: Quote) (PWE.N: Quote) said on Friday that it would sell its Saskatchewan assets, which include holdings in the Viking region, for $975 million to Teine Energy, which is backed by the Canada Pension Plan Investment Board.

The company, which will also sell some of its assets in Alberta for about $140 million, expects the deal to close in the second quarter this year.

(Reporting by Narottam Medhora in Bengaluru; Editing by Diane Craft)