Obsidian Energy Announces Proposed Sale of its 55% Working Interest in the Peace River Oil Partnership
Obsidian Energy Ltd. (OBE)
Last obsidian energy ltd. earnings: 8/2 06:30 am
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US:NYSE Investor Relations:
obsidianenergy.com/investor-centre
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Source: PR Newswire
CALGARY, May 17, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce it has signed a purchase and sale agreement (the "Agreement") to sell its 55% working interest in the Peace River Oil Partnership ("PROP") for total consideration of approximately $97 million, before normal closing adjustments. Total consideration includes $85.8 million in cash and cash equivalents, with the remainder comprised of purchasers' shares and the present value of additional liabilities. The Agreement is subject to financing and the terms of the partnership agreement which provides for a 30-day right of first refusal with an additional 15-day tag-along right to our partner. The effective date of the transaction is February 1, 2019 with an anticipated closing date on or about July 31, 2019. All figures are in Canadian dollars unless otherwise stated.Strategic RationaleConsistent with our previously announced strate
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OBE
Sec Filings
- 3/27/24 - Form 6-K
- 3/15/24 - Form 6-K
- 2/28/24 - Form 6-K
- OBE's page on the SEC website