Penn West Energy Trust, Calgary, has closed the acquisition of conventional assets in Alberta from an undisclosed seller for approximately C$339 million. The assets include 190,000 net undeveloped acres mostly in the Peace River oil sands adjacent to holdings in the Red Earth/Utikuma area. Production is approximately 3,200 barrels of oil and 10.2 million cubic feet of gas, or 4,900 barrels of oil equivalent, per day. Included are high working interests in a 10,000-barrel-per-day oil-processing facility and a gas plant and compression facility with a design capacity of 33 million cubic feet per day.
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