Obsidian Energy Ltd. announced the successful completion of the disposition of its common share position in InPlay Oil Corp. to Delek Group Ltd. The transaction involved 9,139,784 InPlay common shares, representing approximately 32.70 percent of the issued and outstanding InPlay Shares, for an aggregate purchase price of $91,397,840, or $10.00 per InPlay Share, adjusted by $29,563.49 for filing fees.
The primary purpose of this disposition transaction was to monetize the equity consideration received by Obsidian Energy from the sale of its Pembina assets in April 2025. The company expects to initially use the proceeds from this sale to repay existing indebtedness, further enhancing its financial flexibility and balance sheet strength.
Following the closing of the transaction, Obsidian Energy no longer owns any InPlay Shares. The company will also forfeit its 20,834 restricted awards in InPlay 30 days after the closing date, completing its exit from direct equity ownership in InPlay Oil Corp.
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