9.5 C
Fort St. John
Thursday, October 18, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement
Advertisement

Pengrowth sells Bernadet Montney lands for $92 million

CALGARY, A.B. — Pengrowth Energy Corporation announced today that it has sold its non-producing lands at Bernadet in the Montney Basin for $92 million in cash.

The Bernadet asset encompasses 36.6 sections of land with no associated production, cash flow, and neither reserves nor resources.

Derek Evans, President and Chief Executive Officer of Pengrowth commented, “We believe this transaction provides a compelling opportunity to realize value on an asset that has no associated production or cash flow and will allow us to further deleverage our balance sheet. We continue to be active in the Montney through our Groundbirch assets, which are currently producing and which have demonstrated excellent potential to provide long-term growth in production and reserves for Pengrowth.”

The sale is expected to close on or about March 31st, subject to customary closing conditions.

STORIES YOU MIGHT LIKE

Advertisement

Advertisement

Advertisement

Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

Advertisement

Advertisement
Advertisement

Must Read

Tidewater Midstream’s proposed Pipestone gas plant gets regulatory approval

CALGARY, A.B. – Tidewater Midstream announced today that it has received approval from the Alberta Energy Regulator to build its proposed Pipestone Montney Sour Deep-Cut Gas...
Advertisement