Obsidian Energy Expands with Peace River Deal

Obsidian Energy (TSE:OBE) has released an update.

Obsidian Energy has completed the acquisition of Clearwater production and land in the Peace River area, adding 1,700 barrels of oil equivalent per day to its portfolio. The deal, valued at $80.5 million, was financed through a syndicated bank facility and a $50 million term loan. This strategic move aligns with the company’s growth plans and expands its development prospects with approximately 200 new locations identified for potential drilling.

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