Obsidian Energy Ltd. has entered into a definitive agreement with Delek Group Ltd. to sell its entire common share position in InPlay Oil Corp. The transaction involves 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, subject to certain adjustments.
The completion of this disposition transaction is expected to occur in the first half of August 2025, subject to customary closing conditions. The primary purpose of this sale is to monetize the equity consideration Obsidian Energy received in connection with the disposition of its Pembina assets in April 2025.
The proceeds from this significant transaction are expected to be used to repay existing indebtedness, further strengthening Obsidian Energy's balance sheet. Following the closing, Obsidian Energy will no longer own any InPlay Shares and will forfeit its remaining restricted awards in InPlay 30 days later.
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