Penn West takes drastic measuresCEO steps down, dividends slashed, 10% layoff scheduled as resource-rich producer tries to climb out of ditch; talk of breakup Gary Park For Petroleum News Bakken
The price of mounting a rescue mission for Penn West, one of the largest landholders in Alberta’s tight oil plays, has climbed to the point where the senior producer has launched a strategic review, which usually means it will consider selling assets, finding a joint-venture partner or unloading the....
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