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Obsidian Energy ( (TSE:OBE) ) has issued an update.
Obsidian Energy has announced the sale of its operated Pembina assets to InPlay Oil Corp for approximately $320 million, a move set to significantly reduce its debt and improve liquidity. This transaction, which includes cash, equity, and a substantial interest in an oil field, positions the company to focus on its Peace River asset and accelerate its strategy for shareholder value creation through enhanced light oil production.
More about Obsidian Energy
Obsidian Energy is a Calgary-based company operating in the oil and gas industry. It focuses on the exploration and production of oil and natural gas, with significant operations in the Peace River and Pembina regions.
YTD Price Performance: -10.03%
Average Trading Volume: 407,207
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $410.8M
Learn more about OBE stock on TipRanks’ Stock Analysis page.
