Pengrowth Energy Corp., Calgary, is selling its remaining Swan Hills assets in north-central Alberta for $185 million (Can.).
The assets generated average production of 5,150 boe/d during fourth-quarter 2016. Pengrowth’s revised production guidance for 2017 is 43,500-45,500 boe/d.
The sale, which is expected to close on May 31, would bring total disposition proceeds in 2017 to $707 million (Can.). Pengrowth plans to use the proceeds to reduce debt to $700 million (Can.), a decline of about 60% since yearend 2016.