(Calgary) Baytex Energy says it has signed an agreement to sell some of its Viking assets in southwest Saskatchewan for $153.8 million.
Production from the assets located at Forgan and Plato is approximately 4,000 barrels of oil equivalent per day of light and medium crude oil.
The company says the net proceeds from the sale will be used to reduce bank debt.
The sale is expected to close before the end of the year.
Baytex produces oil and natural gas in Western Canada and the Eagle Ford region of the United States.
The company’s shares were down a cent at $5.21 in late morning trading on the Toronto Stock Exchange Monday.
