Obsidian Energy (NYSE:OBE) completes Peace River acquisition

Obsidian Energy (NYSE:OBE) has completed the acquisition of significant oil assets, including approximately 1,700 barrels of oil equivalent per day (boe/d) of Clearwater production and 148 net sections of land in the Peace River area.

This strategic acquisition, initially announced earlier this year, was finalized with a total consideration of about $80.5 million, which includes the cost of liquids inventory and closing adjustments.

The acquisition, effective from May 1, 2024, was funded through a combination of Obsidian's syndicated bank facility and a $50 million term loan.