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Penn West Petroleum Ltd. Message Board

  • uppekhahead uppekhahead Nov 13, 2013 3:37 PM Flag

    Why don't they sell the company?

    Couldn't they fetch $15 for the whole deal?

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    • I presume you didn't hear about or read the strategic review? Been there, done that, got the T-shirt, basically. Same strategic review 5 years ago, same results. No viable buyers wanted it. Assuming some kind of proposal could be put together, and assuming it was approved by the shareholders, it's unlikely that you see anything north of $12 per share. There's a myriad of reasons why, but the bottom line is, while the assets are decent enough, the market is not and won't be for some time. A lot of their producing acreage is in high operating cost areas, and a lot of it is heavy, which they and everyone else is getting away from.

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