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Last C$2.07 CAD
Change Today -0.07 / -3.27%
Volume 619.7K
PWT On Other Exchanges
New York
As of 4:15 PM 07/3/15 All times are local (Market data is delayed by at least 15 minutes).

penn west petroleum ltd (PWT) Snapshot

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52 Week High
07/4/14 - C$10.24
52 Week Low
03/16/15 - C$1.67
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penn west petroleum ltd (PWT) Details

Penn West Petroleum Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. The company’s properties are located in Alberta, British Columbia, Saskatchewan, Manitoba, and the Northwest Territories, Canada; and Wyoming, the United States. As of March 12, 2015, it operated a portfolio of opportunities in light oil in Canada covering a land base of approximately 4.5 million acres. The company was formerly known as Penn West Energy Trust and changed its name to Penn West Petroleum Ltd. in January 2011. Penn West Petroleum Ltd. was founded in 1979 and is headquartered in Calgary, Canada.

1,120 Employees
Last Reported Date: 03/12/15
Founded in 1979

penn west petroleum ltd (PWT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$750.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: C$300.0K
Senior Vice President of Exploitation, Produc...
Total Annual Compensation: C$328.3K
Senior Vice President of Corporate Services a...
Total Annual Compensation: C$328.3K
Vice President of Human Resources and Corpora...
Total Annual Compensation: C$280.0K
Compensation as of Fiscal Year 2014.

penn west petroleum ltd (PWT) Key Developments

Alberta Cree Band Sues Penn West Petroleum Ltd $10 Million over Damage to Traditional Lands

Penn West Petroleum Ltd. announced that a northern Alberta Cree band is suing Calgary's Penn West Petroleum Ltd. for $10 million over damage to traditional lands it says was caused by pipeline leaks. The Woodland Cree First Nation filed a statement of claim this month that says pipeline spills in June 2013, October 2013 and April 2014 contaminated the environment and local wildlife on their lands. The spills adversely affected fish, beavers, moose, elk, bears, ducks, small birds and muskrats on Woodland Cree land along the Peace River, the lawsuit states. Previously, the Cree band used the land for hunting, fishing, trapping and camping. Ongoing contamination limits Cree use of the land and has caused psychological trauma and loss of both culture and livelihood for the First Nation. In June 2013, gas and crude oil spilled from a pipeline southwest of Cadotte Lake and contaminated a square kilometre of land. In October 2013, a smaller spill in the same area affected only 300 square metres. In April 2014, a third leak contaminated an unspecified area of land, the lawsuit states. Penn West also failed to conduct proper testing and maintenance on its pipelines and did not have proper procedures in place to respond to a leak, the band says The Woodland Cree First Nation also states that Penn West did not properly inform them of procedures after the leaks.

Penn West Announces Finalization of Amending Agreements with its Lenders

Penn West Petroleum Ltd. announced that it has finalized and entered into definitive amending agreements with the lenders under its syndicated bank facility and the holders of its senior notes to, among other things, amend its financial covenants as initially disclosed by the Company in its press release issued on March 12, 2015 announcing its year-end financial and operational results for 2014. Since Penn West announced in March that it had entered into agreements in principle with its lenders and noteholders, the Company has sold or entered into agreements to sell assets for aggregate net proceeds of approximately $415 million, which includes $318 million from its previously announced royalty transactions which were completed in early May, and approximately $97 million from non-core asset dispositions which are expected to be completed by the end of the second quarter of 2015. Pursuant to the terms of the amending agreements with its lenders and noteholders, in the event that Penn West completes any asset dispositions prior to March 30, 2017, it has committed to use the net proceeds from such asset dispositions to repay at par $650 million of the outstanding principal amounts owing to noteholders, with corresponding pro rata amounts from such asset dispositions to be used to repay any outstanding amounts drawn under its syndicated bank facility.

Penn West Petroleum Ltd. Approves the Appointment of Ernst & Young LLP as Auditor

Penn West Petroleum Ltd. announced that at its AGM held on May 13, 2015, the shareholders approved the appointment of the Ernst & Young LLP as auditor of the company for the 2015.


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