Penn West Petroleum (PWE) Announces Capital Actions; Will Suspend Dividend
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Penn West Announces Further Actions In Response To Current Commodity Price Environment And Updates 2015 Guidance
September 1, 2015 6:00 AM EDTCALGARY, Sept. 1, 2015 /PRNewswire/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("Penn West", "we", "us" or "our") announces it has taken the following further actions in response to the current commodity price environment:
we will limit our capital expenditures to funds flow from operations by year-end 2015 we will suspend our dividend and reduce board compensation we will significantly reduce our cost structure through a 35% workforce reduction"We continue to take concrete steps to strengthen our... More
