Obsidian Energy Ltd.

Obsidian Energy Ltd. today announced that leading independent proxy advisory firms, Institutional Shareholder Services Inc. and Glass, Lewis & Co both recommend that, at the Company's upcoming special meeting of shareholders on November 23, 2020 , Obsidian Energy shareholders vote FOR the resolution approving the issuance of up to 72,282,992 common shares of Obsidian Energy in connection with the Company's exchange offer [...]

In the news release, Obsidian Energy Announces Strong Third Quarter 2020 Results Driven by Successful First Half Development Program and Continued Improvements to our Cost Structure, issued 02-Nov-2020 by Obsidian Energy Ltd. over CNW, we are advised by the company that the date for the shareholder meeting should read "Monday, November 23, 2020" rather than "Friday, November 23, 2020" as originally issued inadvertently [...]

Obsidian Energy Ltd. announces strong third quarter 2020 financial and operational results. Funds from Operations improved in the quarter as the success of our development program earlier in the year and our lower cost structure more than offset the impact of lower commodity prices, year over year. "Our strong third quarter performance is a direct result of the improvements we are driving across our business" said Stephen [...]

Obsidian Energy Ltd. announces the extension of our syndicated credit facility to January 29, 2021. The syndicated credit facility has an underlying borrowing base of $550 million and amount available to be drawn of $450 million which remains unchanged. Under the agreement, the syndicated credit facility continues to be available on a revolving basis until January 29, 2021, subject to further extensions, with the end date [...]

Bonterra shareholders will benefit from being part of a stronger, more efficient Cardium Champion The combined entity has many positive attributes that lead to a clear path to significant share price appreciation Bonterra has no standalone plan to create shareholder value; only to add more leverage and hope for better commodity prices which is clearly inferior to our Offer Bonterra's Board is conflicted and not working in [...]

Obsidian Energy Ltd. is pleased to provide an update on our Alberta Site Rehabilitation Program grant applications and to give details on additional commodity hedges made during the third quarter of this year. Alberta Site Rehabilitation Program Awards In partnership with our service providers, the Company has received ASRP grants to date totaling $17 million and an additional $4 million in allocation eligibility as an [...]

Obsidian Energy Ltd. , today announced that we have formally commenced our offer to purchase all of the issued and outstanding common shares of Bonterra Energy Corp. for consideration consisting of two common shares of Obsidian Energy for each Bonterra Share tendered. "We believe that our offer is a unique and compelling opportunity to create the "Cardium Champion", with a far superior future than Bonterra could achieve [...]

Creates a Cardium Champion with enhanced scale and relevance Accretive across all equity metrics resulting in significant per share value appreciation to the benefit of both Obsidian Energy and Bonterra shareholders Stabilize balance sheets, reduce debt and improve access to capital Up to C$100 million expected in identified financial, operational and other synergies over the first three years A far superior outcome [...]

Obsidian Energy Ltd. announces the extension of our syndicated credit facility to October 31, 2020. The syndicated credit facility has an underlying borrowing base of $550 million and amount available to be drawn of $450 million which remains unchanged. Under the agreement, the syndicated credit facility continues to be available on a revolving basis until October 31, 2020, subject to further extensions, with the end date [...]

Obsidian Energy Ltd. today announced that it has sent the following letter to Bonterra Energy Corp. proposing a combination transaction that would be expected to result in significant cost synergies and drive substantial accretion across all financial metrics for both Obsidian Energy and Bonterra. August 31, 2020 Bonterra Energy Corp. 901, 1015 – 4th Street SW Calgary, Alberta T2R IJ4 Attention: George Fink – Chairman [...]