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Penn West Continues Overhaul With New CEO, Slashed Dividends And Staff

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By Darren Barbee, Hart Energy
June 5, 2013

Shakeups continue at Penn West Petroleum (NYSE: PWE) with the retirement of Murray Nunns as president and CEO and a slash of dividends and staffing levels by 10% during the next few weeks, the company said on June 4.

Penn West, based in Calgary, appointed David Roberts, former executive vice president and COO of Marathon Oil Corp., as president and CEO, effective June 19. Nunns will officially be on board until July 1.

Clearly trying to right the ship, the announcement comes about a month after Penn West appointed Rick ...

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