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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.