Penn West said in a release Friday the new company will have an enterprise value of approximately $14 billion.

The deal‘s closing comes the same week Vault Energy Trust shareholders approved a $380 million takeover by Penn West.

Vault had delayed the vote from November to earlier this week to give it time to review the impact of Penn West‘s subsequent acquisition of Canetic.

Penn West made its offer for Vault in September, and announced its deal with Canetic a month later.

PIN/Oilweek.Com