Penn West definition

Penn West. , “we”, “us” or “our” means: (i) subsequent to the completion of the Corporate Conversion, Penn West Petroleum Ltd., a corporation existing under the ABCA and the successor to Penn West Trust; and (ii) prior to the completion of the Corporate Conversion, Penn West Trust. Where the context requires, these terms also include all of Penn West’s Subsidiaries on a consolidated basis.
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Penn West means Penn West Petroleum Ltd.
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Penn West means Penn West Energy Trust, an open-ended unincorporated investment trust established under the laws of the Province of Alberta pursuant to the Penn West Trust Indenture;
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Examples of Penn West in a sentence

  • Penn West has an Option Plan that allows Penn West to issue options to acquire common shares to officers, employees and other service providers.

  • Penn West owns the petroleum and natural gas assets or 100 percent of the equity, directly or indirectly, of the entities that carry on the remainder of the oil and natural gas business of Penn West, except for an unincorporated joint arrangement (the “Peace River Oil Partnership”) in which Penn West’s wholly owned subsidiaries hold a 55 percent interest.

  • I have reviewed the interim financial report and interim MD&A (together, the “interim filings”) of Penn West Petroleum Ltd.

  • The redemption value of the Penn West trust units is determined based on 95% of the market value of the trust units at each balance sheet date.

  • Penn West operates under the trade names of Penn West and Penn West Exploration.

  • Penn West cautions users of this information that the process of estimating crude oil and natural gas reserves is subject to a level of uncertainty.

  • The interim consolidated financial statements include the accounts of Penn West, its wholly owned subsidiaries and its proportionate interest in partnerships.

  • Penn West uses the acquisition method to account for business combinations.

  • Penn West records risk management contracts at fair value with changes in fair value recognized in income.

  • Penn West assesses its property, plant and equipment (“PP&E”) and goodwill for impairment by comparing the carrying amount to the recoverable amount of the underlying assets.


More Definitions of Penn West

Penn West. , "we", "us", "our" or "Trust" means Penn West Energy Trust, a trust established under the laws of the Province of Alberta pursuant to the Trust Indenture. Where the context requires, these terms also include all of Penn West's Subsidiaries on a consolidated basis.
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Penn West means Penn West Energy Trust, a trust organized under the laws of the Province of Alberta and governed by the Penn West Trust Indenture;
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Penn West means Penn West Petroleum Ltd., a corporation subsisting under the ABCA.
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Penn West. , “we”, “us”, “our” or “Trust” means Penn West Energy Trust, a trust established under the laws of the Province of Alberta pursuant to the Trust Indenture. Where the context requires, these terms also include all of Penn West’s Subsidiaries on a consolidated basis, which in the case of information presented as at or after January 10, 2008 includes Vault and Vault’s former Subsidiaries (if the context requires), and in the case of information presented as at or after January 11, 2008 includes Canetic and Canetic’s former Subsidiaries (where the context requires).
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Penn West or the “Trust”) in connection with the proposed plan of arrangement (the “Arrangement”) involving the Trust, Penn West Petroleum Ltd. (“PWPL”), certain affiliates of the Trust and PWPL and Unitholders pursuant to an arrangement agreement (the “Arrangement Agreement”) dated effective November 10, 2010, the full text of which is set out in the Information Circular and Proxy Statement (the “Information Circular”) of the Trust dated November 10, 2010. Capitalized terms used but not defined in this Letter of Transmittal shall have the meanings given to them in the Information Circular. The Arrangement will result in the reorganization of the Trust into a dividend paying, growth oriented, publicly traded exploration and production company (“New Penn West”) that will be named “Penn West Petroleum Ltd.” and that, together with its subsidiaries, will carry on the business presently carried on by the Trust and its subsidiaries. Pursuant to the Arrangement, Unitholders will receive, through a series of steps, for each one Trust Unit held, one common share (“New Penn West Share”) of New Penn West as of January 1, 2011.
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Related to Penn West

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