Pengrowth Energy Corporation has successfully completed the previously announced sale of its non-core Jenner area assets for cash consideration of approximately $78 million, after closing cost adjustments. Proceeds from this transaction were used to reduce the Company's outstanding debt.
As of November 30, 2015 and taking into account the funds received for the Jenner disposition, the Company had $58 million drawn on its $1.0 billion committed bank facility. Pengrowth's long-term debt is primarily in US dollars. Using an exchange rate of $0.749 to convert to Canadian dollars, total debt was Cdn $1.86 billion as at November 30, 2015.