Penn West looks to sell $1.5 bln-$2 bln assets before 2015

Wed Nov 6, 2013 6:54am EST
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Nov 5 (Reuters) - Penn West Petroleum Ltd said it aims to sell non-core assets worth $1.5 billion to $2 billion before 2015 as part of a plan to focus on fewer fields centered on the Cardium field in Alberta.

The company also reported a net profit of C$27 million ($25.85 million), or 6 Canadian cents per share for the third quarter, compared with a loss of C$67 million, or 14 Canadian cents per share, a year earlier.