Petrobank Says Goodbye To PetroBakken But Is There Any Value Left Behind?

Petrobank Energy (PBG.TO) is officially cutting the cord with its majority owned subsidiary Petrobakken (PBN.TO). While the company first listed a piece of PetroBakken back in 2009, it only recently announced plans to spin off its remaining 57% stake. The transaction seems a bit complex, but in the end, there will be two companies: a new Petrobank and…