Provident Energy Trust (PVE_U.TO) (PVX) said Wednesday that it has completed the sale of its oil and natural gas assets in Southeast and Southwest Saskatchewan for cash consideration of C$226 million including closing adjustments.
Also, Provident has closed the sale of a minor property in the Lloydminster area of Alberta for C$13 million. Current production from the Dolcy property is about 350 barrels of oil equivalent per day. Proceeds from both transactions will be applied to Provident's revolving term credit facility.
As a result of the sale of these non-strategic assets coupled with the decline in commodity prices, Provident's term credit facility is expected to be adjusted downward by C$75 million to C$1,050 million effective October 1, 2009. After application of sale proceeds, Provident has approximately C$350 million drawn against its term credit facility.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.