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| Home : PetroBakken Announces Closing of the Sale of Non-Core Southeast Saskatchewan Bakken Assets for $427 Million |
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Mar 17
2012 |
PetroBakken Announces Closing of the Sale of Non-Core Southeast Saskatchewan Bakken Assets for $427 Million |
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CALGARY, ALBERTA--(Marketwire - March 16, 2012) - PetroBakken Energy Ltd. (the "Company" or "PetroBakken") (TSX:PBN) is pleased to announce the closing of our previously announced sale of certain non-core southeast Saskatchewan assets (the "Non-Core Assets"), for gross cash proceeds of $427 million. The Non-Core Assets were outside the key focus area of our Bakken business unit as they were largely non-operated and generally have lower average working interest than our remaining lands. Following the closing of this transaction, we will have approximately $1.1 billion of available liquidity from diversified sources of credit that have a layered maturity profile that compliments the long term nature of our light-oil focused assets. |
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| Source:http://www.marketwire.com/mw/release.do?id=1632792&sourceType=3 |
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