Welcome to our dedicated page for Obsidian Energy SEC filings (Ticker: OBE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Obsidian Energy Ltd. (OBE) SEC filings page on Stock Titan is intended to centralize access to the Company’s U.S. regulatory disclosures and related documents, alongside AI-generated explanations. Obsidian Energy is an intermediate-sized oil and gas producer focused on crude petroleum extraction and the exploration, development and holding of interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin.
While recent information provided here is primarily from Canadian news releases and financial updates, U.S.-listed issuers such as Obsidian Energy typically file documents with the U.S. Securities and Exchange Commission through EDGAR. These can include annual and interim reports, registration-related materials and other disclosures that complement the Company’s Canadian filings on SEDAR+.
On this page, Stock Titan’s platform is designed to surface Obsidian Energy’s SEC filings as they become available and pair them with AI-powered summaries. These summaries aim to clarify the key points in lengthy regulatory documents, such as discussions of the Company’s oil and natural gas properties, capital structure (including senior unsecured notes and credit facilities), risk factors, non-GAAP financial measures like funds flow from operations and net debt, and descriptions of hedging strategies.
In addition to core reporting documents, investors often review regulatory materials to understand how a company presents its operations in areas such as Peace River, Willesden Green and Viking, its use of waterflood and enhanced oil recovery pilots, and its approach to balance sheet management, including note redemptions and share repurchases. As new filings are made available via EDGAR, this page is structured to update in real time and provide concise AI explanations to help readers interpret the disclosures without needing to parse every technical section themselves.
Obsidian Energy Ltd. received an updated large-shareholder disclosure from FrontFour-related investors. The amendment reflects changes in how these investors are grouped and the size of their reported stakes.
Based on 67,274,326 common shares outstanding as of December 31, 2025, FrontFour Master Fund directly owns 2,907,541 shares, or about 4.3% of the company, and FrontFour Capital Corp. directly owns 75,571 shares. Individual reporting persons include Stephen Loukas with 2,705,546 shares (about 4.0%) and David A. Lorber, who may be deemed to beneficially own 3,083,110 shares (about 4.6%), while Zachary George may be deemed to beneficially own 2,983,112 shares (about 4.4%).
Effective March 11, 2026, FrontFour Capital adopted an information barrier that separates Loukas’s board and officer role from FrontFour’s investment decisions. As a result, he is no longer part of the Section 13(d) group and this amendment acts as his exit filing. The remaining parties entered a new joint filing agreement on March 13, 2026, and as of March 12, 2026, the reporting persons collectively ceased to beneficially own more than 5% of Obsidian Energy’s outstanding shares.
Obsidian Energy Ltd. received Toronto Stock Exchange approval to renew its normal course issuer bid, allowing the company to repurchase up to 6,458,536 common shares, equal to 10 percent of its public float as of February 17, 2026, between March 3, 2026 and March 2, 2027.
The company had 67,306,951 common shares outstanding and a public float of 64,585,363 shares on that date. It fully utilized its prior NCIB by repurchasing 7,144,408 shares at a volume-weighted average price of about $7.16 per share. Management believes buybacks at certain prices can enhance per-share metrics and has set up an automatic securities purchase plan to continue repurchases during blackout periods.
Obsidian Energy Ltd. submitted a report noting that it has filed its audited Consolidated Financial Statements and related Management’s Discussion and Analysis for the year ended December 31, 2025 with Canadian regulators. The company also filed its Annual Information Form for 2025, which includes required oil and gas reserves data and related disclosures.
Obsidian Energy states that its Annual Report on Form 40-F for the same period will be filed with the U.S. Securities and Exchange Commission. These documents are available electronically on SEDAR+, EDGAR for the Form 40-F, and the company’s website, with hard copies of the audited financial statements and MD&A available free of charge upon request.
Obsidian Energy Ltd. reported fourth quarter and full year 2025 results showing lower cash generation but a stronger balance sheet after a major asset sale. Full-year funds flow from operations was $272.1 million or $3.92 per basic share, down from $432.0 million in 2024, mainly due to lower oil prices and the sale of Pembina assets.
The company recorded net income of $35.2 million in 2025 versus a net loss of $202.6 million in 2024. Average 2025 production was 30,624 boe/d, with fourth quarter volumes at 27,971 boe/d, temporarily reduced by extreme winter weather in Peace River.
Obsidian closed the Pembina Cardium disposition for about $325 million, cutting decommissioning liabilities by $390 million and reducing net debt to $268.2 million from $411.7 million. It spent $298.9 million on capital, achieved reserve replacement of at least 118% across categories, repurchased 7.6 million shares under its buyback, and used equity forward contracts and hedging to manage share-based compensation and commodity price risk.
Obsidian Energy Ltd. filed its Annual Report on Form 40-F including an Annual Information Form, MD&A, audited consolidated financial statements and supplemental oil and gas information for the year ended December 31, 2025. Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2025. The filing states 67,274,326 shares outstanding. KPMG LLP is the independent registered public accounting firm. The exhibit index lists certifications, auditor consents and a clawback policy.
Obsidian Energy reported its independent 2025 year-end reserves, showing strong organic replacement despite selling its Pembina asset, which held about 35 percent of prior reserves. The company replaced 118 percent of production on a proved developed producing basis, 185 percent on proved, and 235 percent on proved plus probable.
On a proved plus probable basis, total reserves were 158.4 mmboe, with 104.8 mmboe in the proved category. Before-tax NPV10 was $961 million for proved developed producing, $1,446 million for total proved and $2,103 million for total proved plus probable, reflecting lower commodity prices and the Pembina sale.
Peace River reserves grew, including 3.5 mmboe of 2P additions from waterflood projects, while the Belly River program in Willesden Green added 12 locations and 5.6 mmboe. Reserve life indices were approximately 6.0, 10.1 and 13.3 years for PDP, 1P and 2P. F&D costs including FDC changes were $25.70/boe (PDP), $19.44/boe (1P) and $20.68/boe (2P).
Obsidian Energy Ltd. filed a 6-K highlighting a First Amending Agreement to its existing credit agreement with a syndicate of banks led by Royal Bank of Canada. The lenders confirmed the company’s borrowing base at Cdn.$300,000,000 as of November 27, 2025.
The amendment supports Obsidian’s plan to incur Permitted Junior Debt through 8.125% senior unsecured notes due on or about December 3, 2030, and adjusts the definition of Permitted Junior Debt to refine cross-default and financial test provisions. Existing guarantees and security from Obsidian and key subsidiaries are confirmed and remain fully in force.
Obsidian Energy Ltd. outlines its 2026 capital program and operational plans, targeting average production of 27,900 to 29,900 boe/d with about 73% liquids. The capital budget is set at $190 to $230 million, split between $128 million for light oil assets at Willesden Green/PCU #11 and $80 million for heavy oil development at Peace River, including $22 million for waterflood projects.
Based on WTI of US$58.00/bbl in the first half of 2026 and US$62.00/bbl in the second half, the Company forecasts funds flow from operations of $225 million or $3.35 per basic share, with about $7 million in free cash flow and year-end net debt of $272 million prior to any share repurchases. The plan includes 38 operated wells plus 10 non-operated (4.5 net) wells and emphasizes waterflood expansion in Clearwater and Bluesky, infrastructure-driven growth at Open Creek, and continued activity at PCU #11.