CALGARY, May 30, 2017 /CNW/ - Trilogy Energy Corp. ("Trilogy") (TSX – TET) is pleased to announce that it has completed its previously announced sale of certain Valhalla assets in the Grande Prairie area of Alberta for cash consideration of $50 Million, with the proceeds to be used to reduce Trilogy's indebtedness under its revolving credit facility.
Trilogy is a petroleum and natural gas-focused Canadian energy corporation that actively develops, produces and sells natural gas, crude oil and natural gas liquids. Trilogy's geographically concentrated assets are primarily high working interest properties that provide abundant low-risk infill drilling opportunities and good access to infrastructure and processing facilities, many of which are operated and controlled by Trilogy. Trilogy's common shares are listed on the Toronto Stock Exchange under the symbol "TET".
SOURCE Trilogy Energy Corp.
For further information: J.H.T. (Jim) Riddell, Chief Executive Officer; J.B. (John) Williams, President and Chief Operating Officer; M.G. (Mike) Kohut, Chief Financial Officer; Trilogy Energy Corp., #1400, 332 - 6th Avenue S.W., Calgary, Alberta T2P 0B2, Phone: (403) 290-2900, Fax: (403) 263-8915