UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549





FORM 40-F/A

(Amendment No. 1)





(Check One)

| ̈ | Registration statement pursuant to Section 12 of the Securities Exchange Act of 1934
|- | ------------------------------------------------------------------------------------

or



|x | Annual report pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934
|- | ---------------------------------------------------------------------------------------

For the fiscal year ended December 31, 2015

Commission file number 1-32895





PENN WEST
PETROLEUM LTD.

(Exact name of registrant as specified in its charter)







|                                                                  |  |                                                                          |  |                                                        
|----------------------------------------------------------------- |  | ------------------------------------------------------------------------ |  | -------------------------------------------------------
|Alberta, Canada                                                   |  | 1311                                                                     |  | Not applicable                                         
|(Province or other jurisdiction of
incorporation or organization) |  | (Primary Standard Industrial
Classification Code Number (if applicable)) |  | (I.R.S. Employer
Identification Number (if Applicable))

Suite 200, 207  9th Avenue SW, Calgary, Alberta,
Canada T2P 1K3

(403) 777-2500

(Address and Telephone Number of Registrants Principal Executive Offices)

DL Services Inc., Columbia Center, 701 Fifth Avenue, Suite 6100, Seattle, Washington 98104-7043

(206) 903-5448

(Name,
Address (Including Zip Code) and Telephone Number

(Including Area Code) of Agent For Service in the United States)

Securities registered or to be registered pursuant to Section 12(b) of the Act.



|                    |  |                                          
|------------------- |  | -----------------------------------------
|Title of each class |  | Name of each exchange on which
registered
|Common Shares       |  | New York Stock Exchange                  

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

For annual reports, indicate by check mark the information filed with this Form:



|                         |  |                                     
|------------------------ |  | ------------------------------------
|xAnnual Information Form |  | xAudited Annual Financial Statements





Indicate the number of outstanding shares of each of the issuers classes of capital or common stock as of the close of the period
covered by the annual report:502,163,163

Indicate by check mark whether Penn West: (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that Penn West was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days.

Yes  x            No 
  ̈

Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (s.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
Registrant was required to submit and post such files).

Yes   ̈            No 
  ̈









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EXPLANATORY NOTE

Penn West Petroleum Ltd. (Penn West) is filing this Amendment No. 1 to its Annual Report on Form 40-F for the fiscal year ended
December 31, 2015 (the Form 40-F) for the purpose of correcting the date of the KPMG LLP (KPMG) report referenced in the KPMG consent dated March 9, 2016, which was filed as Exhibit 99.10 to the Form 40-F. Penn West
is amending the Form 40-F in order to amend and restate Exhibit 99.10 thereto.

The error being corrected by this Amendment No. 1 is changing the
reference to the date of the KPMG report from March 10, 2016 to the correct date of March 11, 2015.

Other than as expressly set forth above or
contained herein, this Amendment No. 1 does not, and does not purport to, update or restate the information in any Item of the Form 40-F or reflect any events that have occurred after the Form 40-F was initially filed.



US-1



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UNDERTAKING AND CONSENT TO SERVICE OF PROCESS



|A. | Undertaking.
|-- | ------------

Penn West undertakes to make available, in person or by telephone,
representatives to respond to inquiries made by the Commission staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to: the securities registered pursuant to Form 40-F; the securities in relation to
which the obligation to file an annual report on Form 40-F arises; or transactions in said securities.



|B. | Consent to Service of Process.
|-- | ------------------------------

Penn West has previously filed a Form F-X in connection
with the class of securities in relation to which the obligation to file this report arises.

Any change to the name or address of the
agent for service of process of Penn West shall be communicated promptly to the Commission by an amendment to the Form F-X referencing the file number of Penn West.

SIGNATURES

Pursuant to
the requirements of the Exchange Act, Penn West Petroleum Ltd. certifies that it meets all of the requirements for filing on Form 40-F and has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized,
on September 8, 2016.



Penn West Petroleum Ltd.By:

/s/ David E. RobertsName:

David E. RobertsTitle:

President and Chief Executive Officer




US-2



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EXHIBIT INDEX



|             |  |                                                                                                                                  
|------------ |  | ---------------------------------------------------------------------------------------------------------------------------------
|Exhibit      |  | Description                                                                                                                      
|             | 
|99.1 *       |  | Annual Information Form for the fiscal year ended December 31, 2015                                                              
|             | 
|99.2 *       |  | Managements Discussion and Analysis of Financial Condition and Results of Operations for the fiscal year ended December 31, 2015
|             | 
|99.3 *       |  | Consolidated Financial Statements for the fiscal year ended December 31, 2015                                                    
|             | 
|99.4 *       |  | Supplemental Oil and Gas information                                                                                             
|             | 
|99.5         |  | Certification of President & Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934 
|             | 
|99.6         |  | Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14 of the Securities Exchange Act of 1934             
|             | 
|99.7 *       |  | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350                                                      
|             | 
|99.8 *       |  | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350                                                      
|             | 
|99.9 *       |  | Consent of Ernst & Young LLP                                                                                                     
|             | 
|99.10 99.11* |  | Consent of KPMG LLP 
Consent of Sproule Associates Limited                                                                       
|             | 
|99.12*       |  | Code of Business Conduct and Ethics                                                                                              



|* | Previously filed.
|- | -----------------