Obsidian Energy closes $98 million Belly River deal

• Obsidian Energy (NYSE:OBE) completed a $98 million acquisition in the Belly River light oil area in Willesden Green.
• The deal adds about 2,500 barrels of oil equivalent per day and 35 net land sections.
• The company raised 2026 production guidance to 29,000–31,000 boe/d and projected $310 million in FFO.

Obsidian Energy (NYSE:OBE) said it has closed its Belly River light oil acquisition in Willesden Green for approximately $98 million.

The acquisition adds about 2,500 barrels of oil equivalent per day and increases the company’s land position by 35 net sections.

The company raised its 2026 production guidance range to 29,000–31,000 boe/d while maintaining capital spending at $300–$325 million.

Obsidian Energy also forecast 2026 funds flow from operations of about $310 million and year-end net debt of approximately $395 million.

The company said it plans a six-well development program on the acquired lands in early 2027 to support future output growth.

Obsidian Energy targets about 22% total production growth in 2027, driven by roughly 28% growth in light oil output.