Obsidian Energy Ltd. is pleased to announce the following: Fixed Income Investor Meetings Obsidian Energy Ltd. has engaged Pareto Securities to arrange fixed income investor meetings in conjunction with a potential unsecured bond issuance. Following these meetings, and subject to market conditions and acceptable terms, a 5-year senior unsecured bond issue of up to US$100 million may take place. The proceeds from the Bond [...]
Obsidian Energy Ltd. is pleased to announce it has signed a purchase and sale agreement to sell its 55% working interest in the Peace River Oil Partnership for total consideration of approximately $97 million, before normal closing adjustments. Total consideration includes $85.8 million in cash and cash equivalents, with the remainder comprised of purchasers' shares and the present value of additional liabilities. The [...]
Obsidian Energy Ltd. is pleased to announce its financial and operational results for the three months ended March 31, 2019. All figures are in Canadian dollars unless otherwise stated. Michael Faust, Interim President and CEO commented "Stepping into my role at Obsidian Energy, I am focusing my attention on three main areas. First, I will ensure we continue to deliver strong and repeatable well results from our Cardium [...]
Obsidian Energy Ltd. is expected to release its first quarter 2019 financial and operational results before North American markets open on Friday, May 10, 2019. In addition, the first quarter management's discussion and analysis and the unaudited consolidated financial statements will be available on our website at www.obsidianenergy.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov in due course. CONFERENCE [...]
Obsidian Energy Ltd. is pleased to announce an operational update on our Cardium drilling program. "While still in the early days of my tenure as Interim President and CEO of Obsidian Energy, I continue to be excited by the high caliber of our Cardium program and the future for long term growth. We continued to march through our development program delivering volumes as expected, on time, and on budget. Given the vast [...]
Obsidian Energy Ltd. announces that it has filed with Canadian securities regulatory authorities its audited Consolidated Financial Statements for the year ended December 31, 2018 and related Management's Discussion and Analysis. Obsidian Energy has also filed its Annual Information Form for the year ended December 31, 2018, which includes the disclosure and reports relating to reserves data and other oil and gas [...]
Obsidian Energy Ltd. today announced the appointment of Michael J. Faust as interim President and CEO, effective March 18, 2019 for a period of twelve months with an optional six-month extension. Mr. Faust will succeed current President and CEO, David French, who will step down from the Company effective March 29, 2019. Mr. French will not stand for reelection as a director at the Company's Annual General Meeting. Mr [...]
Obsidian Energy Ltd. is pleased to announce its year-end 2018 financial and operational results. All figures are in Canadian dollars unless otherwise stated. Obsidian Energy's audited consolidated financial statements and Management's Discussion and Analysis as at and for the year-ended December 31, 2018 can be found on our website at www.obsidianenergy.com. The documents will also be filed on SEDAR and EDGAR in due [...]
Obsidian Energy Ltd. is expected to release its financial and operational results for the year ended December 31, 2018 before North American markets open on Thursday, March 7, 2019. In addition, the year ended management's discussion and analysis and the audited consolidated financial statements will be available on our website at www.obsidianenergy.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov on the same [...]
Obsidian Energy Ltd. announces that Gordon Ritchie will replace Jay W. Thornton as Chairman of the Board of Directors . Mr. Thornton has resigned his Board position effective as of the close of business on Wednesday, February 20, 2019 due to personal reasons. Mr. Ritchie commented "I would like to thank Jay for his time on the Board and acting as Chairman. As I embark in this new role as Chairman, I look forward to [...]
Obsidian Energy Ltd. is pleased to release its year-end 2018 independent reserves evaluation and provide Company updates on our recent drilling results, marketing and hedging portfolio, 2019 development and guidance revisions. 2018 Year-End Reserves Summary The Company is pleased to present the results of its year-end 2018 independent reserves evaluation, prepared by Sproule Associates Limited . 2018 marks the second year [...]
Obsidian Energy Ltd. announces that its semi-annual borrowing base redetermination has resulted in a $30 million increase to its syndicated credit facility to $470 million. Additionally, Obsidian Energy provides an update on our latest Cardium drilling activity. Increased Syndicated Credit Facility The Company has a reserve-based syndicated credit facility, with an underlying borrowing base of $550 million, less the [...]
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