Penn West Petroleum Ltd. - 2011-06-28

The company has closed the renewal of its unsecured, revolving bank facility on June 27, 2011.

The facility has a four-year term, matures June 26, 2015, and includes a syndicate of Canadian and International banks. The facility has an aggregate borrowing limit of $2.25 billion on which Penn West Exploration is currently drawn approximately $900 million. This renewal was jointly led by BMO Capital Markets and Canadian Imperial Bank of Commerce.