Obsidian Energy Ltd.

Obsidian Energy Ltd. announces that, further to our press release on February 27, 2020, we have reached an agreement with our syndicated credit facility lenders to extend the date by which certain conditions are required to be met from March 4, 2020 to March 13, 2020. Those conditions include: the maturity dates of the Company's outstanding senior notes due on March 16, 2020, May 29, 2020 and December 2, 2020, totaling [...]

Obsidian Energy Ltd. announces the extension of the Company's syndicated credit facility with the underlying borrowing base and amount available under the syndicated credit facility set at $550 million and $450 million, respectively, subject to specific items being amended as discussed below. The amount available under the syndicated credit facility has been reduced by $10 million to the aforementioned $450 million level [...]

CALGARY, Feb. 6, 2020 /CNW/ - Obsidian Energy Ltd. is pleased to release its year-end 2019 independent reserves evaluation. Stephen Loukas, Interim President and CEO commented, "We are pleased to announce our 2019 reserve results which demonstrates the strength of our dedicated Cardium development strategy, allowing for our reserve auditors to recognize the performance and improved cost efficiency of the program. In [...]

Obsidian Energy Ltd. is pleased to announce its year-end 2019 production numbers as well as the reconfirmation of its existing credit facility. Full Year 2019 Production Full year 2019 production was 26,900 boe/d, within our recent full year guidance range of 26,750 to 27,250 boe/d. Additionally, production in the fourth quarter of 2019 was approximately 26,600 boe/d, with an average December rate of approximately 28,000 [...]

Obsidian Energy Ltd. is pleased to provide an update on our Cardium development program which continues to demonstrate encouraging results as we initiate our 2020 drilling campaign. Additionally, the Company provides the details of recently added hedges to our 2020 program. Cardium Development Program Update All 13 wells from the second half of 2019 were successfully brought online prior to the end of December. Results [...]

Obsidian Energy Ltd. is pleased to announce the appointment of Stephen E. Loukas as Interim President and CEO, effective December 5, 2019. Mr. Loukas will succeed current Interim President and CEO, Michael J. Faust, who will return to his prior position of Independent Director and take on new responsibilities as Chair of the Commercial Committee. Gordon Ritchie, Chairman of the Board of Directors , commented, "I would [...]

Obsidian Energy Ltd. is pleased to announce the appointment of Stephen E. Loukas as Interim President and CEO, effective December 5, 2019. Mr. Loukas will succeed current Interim President and CEO, Michael J. Faust, who will return to his prior position of Independent Director and take on new responsibilities as Chair of the Commercial Committee. Gordon Ritchie, Chairman of the Board of Directors , commented, "I would [...]

 Obsidian Energy Ltd. is pleased to announce its financial and operational results for the three and nine months ended September 30, 2019. All figures are in Canadian dollars unless otherwise stated. Michael Faust, Interim President and CEO, commented, "Throughout the third quarter of 2019, Obsidian Energy continued to deliver on our commitments. We continue to operate within our Funds Flow from Operations, production [...]

 Obsidian Energy Ltd. announces the reporting date of its upcoming third quarter 2019 financial and operating results and the resignation of its Chief Financial Officer. Date of Third Quarter Results Obsidian Energy expects to release its third quarter 2019 financial and operational results before North American markets open on Monday, November 4, 2019. In addition, the third quarter management's discussion and analysis [...]

Obsidian Energy Ltd. received notification on October 1, 2019, from the New York Stock Exchange that the Company is no longer in compliance with one of the NYSE's continued listing standards because the average closing price of Obsidian Energy's common shares was less than US$1.00 per share over a consecutive 30 trading day period. As of September 27, 2019, the average closing price of Obsidian Energy's common shares over [...]