Obsidian Energy Ltd.

Strong 2020 operational performance drives improved cost metrics and debt reduction Robust well results to date from first half 2021 development program 2021 capital budget set at $127 million with decommissioning budget of $8 million Obsidian Energy Ltd. is pleased to report strong operating and financial results for the fourth quarter and full year 2020. Three months ended December 31 Year ended December 31 2020 2019 [...]

Maturity dates of both credit facility and senior notes extended to November 2022 Obsidian Energy Ltd. is pleased to announce that the Company has executed amending agreements to extend both our syndicated credit facility and senior notes maturity date to November 30, 2022. "We are very pleased with the successful completion of our extension," said Stephen Loukas, Obsidian Energy's Interim President and CEO. "With the [...]

Obsidian Energy Ltd. announces an extension of our syndicated credit facility to March 31, 2021 and provides a hedging update. CREDIT FACILITY EXTENSION The Company has entered into an agreement with lenders to extend our syndicated credit facility to March 31, 2021. The syndicated credit facility has an underlying borrowing base of $550 million with $450 million available to be drawn; both amounts remain unchanged. Under [...]

Total 1P and 2P reserves and reserve life indices increased over 2019 Cardium asset reserves replaced 149 percent and 164 percent of associated 2020 production on a 1P and 2P basis, respectively Strong future growth potential with 18 percent increase in undeveloped reserve locations and 27 percent increase in Cardium specific locations Obsidian Energy Ltd. is pleased to announce its independent reserves evaluation for the [...]

Obsidian Energy Ltd. announces the extension of our syndicated credit facility to February 26, 2021 and provides an operational update on recent drilling and hedging activities. CREDIT FACILITY EXTENSION The Company has entered into an agreement with lenders to extend our syndicated credit facility to February 26, 2021. The syndicated credit facility has an underlying borrowing base of $550 million with $450 million [...]

• Offer to purchase Bonterra extended to March 29, 2021, allowing Bonterra shareholders to assess the relative performance of the two companies' fourth quarter and year end 2020 results • Obsidian Energy draws attention to questionable trading activity of Bonterra CEO Obsidian Energy Ltd. , today announced that it has extended the expiry of its offer to purchase all of the issued and outstanding common shares of [...]

• Offer to purchase Bonterra extended to March 29, 2021, allowing Bonterra shareholders to assess the relative performance of the two companies' fourth quarter and year end 2020 results • Obsidian Energy draws attention to questionable trading activity of Bonterra CEO Obsidian Energy Ltd. , today announced that it has extended the expiry of its offer to purchase all of the issued and outstanding common shares of [...]

Combination Creates a Stronger Company with a Far Superior Future Markets are rewarding Consolidation with Share Price Appreciation Obsidian Energy Ltd. today provided Bonterra Energy Corp. shareholders with compelling reasons why combining Bonterra and Obsidian Energy is in their best interests through increased shareholder value. "Our in-depth financial and operational analysis clearly shows that the value as a combined [...]

$40 million capital in development and decommissioning program for first half 2021 Seven well drilling program builds on success of 2020 Willesden Green Cardium locations Obsidian Energy Ltd. today announced first half 2021 guidance as the Company continues to advance its development in the Cardium area. A total of $35 million in capital expenditures plus $5 million in decommissioning expenditures is currently budgeted [...]

Offer to purchase Bonterra extended to January 25, 2021 Minimum tender condition lowered to 50% of Bonterra Energy Corp.'s outstanding shares Improved valuation following Obsidian Energy Ltd. share price up 110% in the last month, compared to 4% for Bonterra Energy Corp. *This news release contains multimedia – to view the full PDF version as it is intended, please click here.* Obsidian Energy Ltd. today announced that [...]