According to a release, the Disposition Assets represent approximately 1,450 boe/d (95 percent oil and natural gas liquids) of oil and natural gas liquids production per day. Through the Disposition, Renegade further continues to high-grade its asset base by divesting of mature fields that were identified early on in the strategic review as being appropriate to divest. The proceeds from the Disposition will be used to repay a portion of indebtedness drawn under Renegade's credit facility, which will increase financial flexibility and reduce future interest costs.
The Disposition further demonstrates the board and management's efforts to increase Renegade's financial flexibility, prudently manage the balance sheet and enhance shareholder value.
Renegade announced that a cash dividend in the amount of
These dividends are designated as "eligible dividends" for Canadian income tax purposes.
Renegade is a light oil focused development and production company with assets located in
((Comments on this story may be sent to email@example.com))