May 25, 2017 / 10:32 PM / in 7 months

BRIEF-Trilogy energy to sell certain Duvernay assets in Kaybob area for $60 mln

May 25 (Reuters) - Trilogy Energy Corp:

* Announces agreement to sell certain Duvernay assets in the Kaybob area for $60 million and provides an update on its previously announced Grande Prairie area disposition

* Maintains its current average 2017 annual production guidance of 24,000 boe/d​

* Proceeds from sale of 2 tansactions will be applied to reduce Trilogy’s indebtedness under its revolving credit facility

* Sale of certain Valhalla assets in Grande Prairie area remains conditional pending purchaser’s receipt of regulator approvals​

* To sell about 9.75 net sections of duvernay mineral rights in kaybob duvernay play, 11.0% interest in a non-operated gas plant

* Upon closing of Valhalla Area asset sale, Trilogy’s borrowing base will be reduced from $300 million to $290 million

* Upon closing of Duvernay asset sale, Trilogy’s borrowing base will be reduced from $290 million to $285 million Source text for Eikon: Further company coverage:

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