Canadian oil company Penn West Petroleum is targeting 15% growth in production during 2017 as it looks to rebuild activity less than a year after being on the brink of bankruptcy protection.
After an aggressive campaign to cut costs and sell assets throughout 2016, the Calgary-based company has made a “notable transition to a growth trajectory” and expects to steady incremental growth from its Cardium and Viking assets in Alberta’s Deep basin, said chief executive David French.
Doubling
