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On May 6, Penn West Petroleum Ltd. announced that former Suncor CEO Rick George and former Canadian Natural Resources board chair Allan Markin were joining its board in the respective roles of board chair and vice-chair. What caught our attention was not only the experience that the two bring to Penn West, but also the amount of stock. Mr. George joined owning 372,600 Penn West shares while Mr. Markin started out with 1,547,400. Moreover, in late May Mr. Markin spent $5,838,406 buying even more shares of the company.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.