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In Penn West turnaround, it's one step forward, many steps back Add to ...

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If corporate turnarounds were easy, we’d all be doing it.

They’re not. They’re invariably tricky and often downright painful. Penn West Petroleum Ltd.’s turnaround efforts have been both of those and more.

Now, strides the Calgary-based oil producer has made to stabilize itself in the past year will be overshadowed for an indefinite period by fears of corporate malfeasance, deserved or not.

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