Obsidian Energy Ltd. is pleased to announce the reconfirmation of our syndicated credit facility with no changes to our revolving period. As previously disclosed, the Company had a revolving period reconfirmation date on January 17, 2022, whereby, on or prior to such date, the lenders may have accelerated the end of the revolving period of our credit facility to February 1, 2022. In this case, the end date of the term-out [...]
Obsidian Energy Ltd. is pleased to announce that the Company has applied for listing on the NYSE American. With an extensive U.S. shareholder base, we believe that, upon approval of our listing application on the NYSE American, this listing has the potential to improve liquidity by increasing investors' ability to invest in Obsidian Energy. "Our shareholders have expressed their desire for the Company to relist on a [...]
Obsidian Energy Ltd. announced that we have completed the one-time adjustment of our syndicated credit facility effective December 31, 2021. Our aggregate commitment amount is now $366.8 million adjusted from the previous amount of $415.0 million. The Company's syndicated credit facility included a one-time adjustment to reduce our undrawn availability to $35.0 million effective December 31, 2021, with any borrowing [...]
2021 development drilling program successfully completed on schedule Obsidian Energy Ltd. is pleased to provide an operational update on our second half 2021 development program with all drilling activity completed on schedule. We expect our full year 2021 average production to be approximately at the low end of the range of our guidance based on preliminary estimates, which reflects a minor delay in the closing of our [...]
Obsidian Energy Ltd. announced that our semi-annual borrowing base redetermination has been completed, resulting in a $35 million increase to our revolving syndicated credit facility from $225 million to $260 million. The Company has a reserve-based syndicated credit facility with an aggregate amount available under the syndicated credit facility of $415 million, which now consists of a $260 million revolving credit [...]
Obsidian Energy Ltd. is pleased to announce it has closed its previously announced acquisition of the remaining 45 percent interest in the Peace River Oil Partnership asset through a wholly-owned subsidiary . "We're extremely pleased to have successfully completed this acquisition," said Stephen Loukas, Obsidian Energy's Interim President and CEO. "With full ownership and the current favorable commodity price outlook, we [...]
Obsidian Energy Ltd. is pleased to announce it has closed its previously announced marketed public offering of subscription receipts at a price of $4.40 per Subscription Receipt for aggregate gross proceeds of approximately $25.9 million . The Offering was conducted on a "best efforts" agency basis by a syndicate of agents . The Agents exercised in full the 15 percent over-allotment option granted to them in conjunction [...]
Obsidian Energy Ltd. is pleased to announce it has closed its previously announced marketed public offering of subscription receipts at a price of $4.40 per Subscription Receipt for aggregate gross proceeds of approximately $25.9 million . The Offering was conducted on a "best efforts" agency basis by Raymond James Ltd. and Stifel Nicolaus Canada Inc. . The Agents exercised in full the 15 percent over-allotment option [...]
Successful drilling results to date in the second half 2021 drilling program Continued debt pay down and higher funds flow from operations Acquisition of remaining Peace River Oil Partnership ownership subsequent to the quarter Obsidian Energy Ltd. is pleased to report strong operating and financial results for the third quarter 2021. Three Months Ended September 30 Nine Months Ended September 30 2021 2020 2021 2020 [...]
Obsidian Energy Ltd. is pleased to announce that it has filed an amended and restated preliminary short form prospectus in connection with its previously announced marketed offering of subscription receipts of the Company . The Amended and Restated Prospectus provides that the price of the Subscription Receipts to be issued and sold pursuant to the Offering will be $4.40 per Subscription Receipt for gross proceeds of up [...]
Proceeds to pay for acquisition of 45 percent partnership interest in Peace River Oil Partnership Obsidian Energy Ltd. is pleased to announce it has filed and been receipted for a preliminary short form prospectus with the securities commissions in each of the provinces of Canada, other than Québec, in connection with a "best efforts" marketed equity offering of subscription receipts for minimum gross proceeds of $12.5 [...]
Acquisition to provide additional production and reserves, full operational and funding control Increased third quarter funds flow from operations from higher commodity prices and dedicated focus on managing cost structure Obsidian Energy Ltd. is pleased to announce it has entered into a purchase and sale agreement to acquire the remaining 45 percent partnership interest in the Peace River Oil Partnership asset from our [...]
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