Penn West: Putting Its House In Order

This article was originally published by Seeking Alpha on Sep. 28

Summary: Penn West is recovering after it was hit with a major accounting scandal. The company has recently released its impressive second quarter results. The company has set its eyes on its long-term future. Is it worth investing?

This Canadian Energy Play Is Eyeing a Turnaround

From The Motley Fool

Penn West Petroleum (NYSE: PWE) is one of the largest oil and gas exploration and production companies in Canada, and the stock is poised for significant growth in the near term. Although this year its shares have trailed slightly behind the S&P 500, in 2012 the stock was a disaster, showing a drop of more than 45% in the 12 months ending December, which mirrored the company’s unimpressive performance. In fact, in 2012 Penn West was the third among the three worst-performing Canadian energy producers. However, Penn West has gone through a significant overhaul and is now eyeing a turnaround.