Mr. Derek Evans reports
PENGROWTH ANNOUNCES CLOSING OF THE SALE OF ITS JENNER AREA ASSETS
Pengrowth Energy Corp. has successfully completed the previously announced sale of its non-core Jenner area assets for cash consideration of approximately $78-million, after closing cost adjustments. Proceeds from this transaction were used to reduce the company's outstanding debt.
As of Nov. 30, 2015, and taking into account the funds received for the Jenner disposition, the company had $58-million drawn on its $1.0-billion committed bank facility. Pengrowth's long-term debt is primarily in U.S. dollars. Using an exchange rate of 74.9 cents to convert to Canadian dollars, total debt was $1.86-billion as at Nov. 30, 2015.
© 2024 Canjex Publishing Ltd. All rights reserved.