June 10, 2016 / 11:27 PM / in a year

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

(Reuters) - Canadian energy producer Penn West Petroleum Ltd PWT.TO PWE.N 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

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