Penn West Petroleum prices $300 million private placement of notes

Penn West Petroleum, Ltd., a wholly-owned subsidiary of Penn West Energy Trust, has priced its proposed offering of $300 million senior unsecured notes on a private placement basis in the United States and Canada.

Penn West Energy Trust is a Canada-based oil and natural gas producing income trust.

The notes will be issued with an average term of 8.6 years and an average rate of approximately 5.5%. The notes are unsecured and rank equally with Penn West’s bank facilities and Penn West’s other outstanding senior notes. The transaction is expected to close on or about March 16, 2010. http://www.tradingmarkets.com/news/stock-alert/pwe_pwt_penn-west-petroleum-prices-300-million-private-placement-of-notes-816496.html

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