Penn West Petroleum Ltd. (Penn West) is a conventional oil and natural gas producer in Canada. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. Penn West is a development and production company. During the fiscal year ended December 31, 2016, Penn West had produced 20 million barrels of oil equivalent (MMboe), consisting of eight million barrels (MMbbl) of light and medium crude oil, three MMbbl of heavy crude oil, 44 billion cubic feet (Bcf) of conventional natural gas and one MMbbl of natural gas liquids. As of December 31, 2016, its production and reserves were attributed to approximately 92 producing properties. Penn West's operations are focused on light-oil development. Its principal oil and natural gas properties and related operations, and activities include Cardium Resource Play, Peace River Resource Play and Viking Resource Play.