Obsidian Energy Stock Price, News & Analysis

Obsidian Energy has announced the release date for its first quarter 2025 financial and operational results, scheduled for Wednesday, May 7, 2025, before North American markets open. The company will host its Annual and Special Meeting on the same day at 1:00 p.m. MT in Calgary, Alberta.

Following the formal meeting, President and CEO Stephen Loukas and management will conduct a webcast presentation at 2:00 p.m. MT. Shareholders can access the presentation through the company's website or the webcast portal. Participants can join via toll-free numbers: 1-844-763-8274 (Canada/U.S.) or 1-647-484-8814 (International).

Questions can be submitted in advance through the webcast portal or via email to investor relations. An updated corporate presentation will be available on the company's website after the webcast. Obsidian Energy trades on both the TSX and NYSE American under the symbol "OBE".

Obsidian Energy (TSX: OBE, NYSE: OBE) has successfully closed the divestiture of its operated Pembina assets to InPlay Oil Corp. (TSX: IPO) for approximately $320 million. The transaction includes:

• $220 million in cash (reduced to $211 million after adjustments)
• $85 million in InPlay common shares (54.8 million shares at $1.55 per share)
• InPlay's 34.6% working interest in Willesden Green Cardium Unit #2, valued at $15 million

The cash proceeds were used to reduce the company's debt, leaving approximately $30 million drawn on their reduced $235 million syndicated credit facility. The facility's terms have been extended to May 31, 2026 for the revolving period and May 31, 2027 for maturity. Following the transaction, Obsidian Energy now owns approximately 33% of InPlay's outstanding shares.

Obsidian Energy (TSX: OBE, NYSE American: OBE) announced that its offer to purchase up to $3.0 million of its outstanding 11.95% Senior Unsecured Notes due July 27, 2027, has received no valid tenders before the March 11, 2025 deadline. The offer, which was announced on February 26, 2025, has now expired.

The company currently maintains $114.2 million in aggregate principal amount of Notes outstanding. The tender offer was administered by Computershare Investor Services Inc. as the tender agent.

Obsidian Energy (TSX: OBE) has received TSX approval to renew its Normal Course Issuer Bid (NCIB), allowing the purchase of up to 7,144,408 common shares (10% of public float) over 12 months starting March 3, 2025. The program will expire on March 2, 2026.

Daily purchases on TSX are to 55,460 shares, with block purchase exceptions allowed weekly. Under the current NCIB expiring February 28, 2025, the company has already repurchased 4,164,820 shares at an average price of $9.32 per share.

The company believes its share price occasionally undervalues the business, making share repurchases an attractive opportunity to enhance per-share metrics. An automatic securities purchase plan has been established with a designated broker to facilitate purchases during blackout periods.

Obsidian Energy (TSX: OBE, NYSE American: OBE) has launched a cash offer to purchase up to $3.0 million of its outstanding 11.95% Senior Unsecured Notes due July 27, 2027. As of February 26, 2025, $114.2 million aggregate principal amount of Notes were outstanding.

The offer will expire on March 11, 2025, at 5:00 p.m. EDT. Holders of validly tendered and accepted Notes will receive $1,030 per $1,000 principal amount, plus accrued and unpaid interest. Settlement is expected on March 14, 2025.

If the aggregate purchase price exceeds the Maximum Purchase Consideration, the company will accept Notes on a pro rata basis. The offer is not conditional on any minimum amount of Notes being tendered, and Obsidian Energy may amend, extend, terminate, or increase the Maximum Purchase Consideration at its discretion.

Obsidian Energy (TSX: OBE) (NYSE American: OBE) has announced the filing of its 2024 year-end disclosure documents with Canadian securities regulatory authorities. The company has submitted its:

• Audited Consolidated Financial Statements for the year ended December 31, 2024
• Management's Discussion and Analysis (MD&A)
• Annual Information Form including reserves data and oil/gas information
• Annual Report on Form 40-F (to be filed with U.S. SEC)

These documents are accessible electronically through SEDAR+, EDGAR, and the company's website. Hard copies of the financial statements and MD&A are available upon request through Investor Relations.

Obsidian Energy announced its first half 2025 capital program and guidance, focusing on Peace River asset development with a plan of 38 net operated wells. The company will allocate $185-195 million in capital expenditures, including $24 million for exploration/appraisal drilling and $11 million for waterflood projects, plus $11-12 million for decommissioning.

First half production is expected to average approximately 33,800 boe/d, a 3% decrease from H1 2024 primarily due to the disposition of operated Pembina assets to InPlay Oil Corp., resulting in the net sale of approximately 10,000 boe/d of production. The company's strategy remains focused on driving heavy oil production growth at Peace River to approximately 25,000 boe/d in 2026.

The capital program includes Clearwater waterflood initiatives to support future growth, with six drilling rigs currently active. Peace River production grew substantially in 2024, with Clearwater output increasing from 447 boe/d in January 2024 to over 4,500 boe/d in December 2024. The company expects to provide full-year guidance in June after evaluating development plans for the second half of 2025.