Provident Energy Trust (PVX), Monday said it has completed the previously announced sale of its oil and natural gas assets in the Lloydminster area to Emerge Oil & Gas Inc. for total consideration of C$85 million, including closing adjustments. The sale proceeds are comprised of C$68 million in cash and C$17 million in equity. After application of cash proceeds from this sale, Provident will have about C$285 million drawn against its revolving term credit facility.
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