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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Calgary, Alberta--(Newsfile Corp. - July 15, 2026) -  OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we have entered into an underwriting agreement to sell, on a private placement basis (the "Offering"), an additional $75.0 million aggregate…

The market is underappreciating Obsidian Energy's earnings potential from the Belly River acquisition and Clearwater waterflooding success. OBE's asset optimization—divesting non-core Pembina, expanding Willesden Green, and focusing capex on Peace River—strengthens production and cash flow outlook. Balance sheet improvements include reducing long-term debt from $239M to $126.9M and refinancing at a lower 8.125%…

Calgary, Alberta--(Newsfile Corp. - July 2, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") has closed our previously announced acquisition of Belly River light oil assets in the Wilson Creek area of Willesden Green (the "Acquisition").

Obsidian Energy trades at roughly half its 2P NAV, making it the sector's most undervalued oil and gas name. OBE's aggressive buybacks, $1.6 billion in tax pools, and hedges rolling off set up strong 2027 free cash flow leverage. Production is set to grow 15% in 2027, driven by expanded capital programs and the accretive Belly River acquisition.

Obsidian Energy increased its capital budget as higher commodity prices improved cash flow and reduced its debt ratio. OBE can rapidly boost production by drilling additional wells, leveraging its smaller scale and existing infrastructure. The company is expanding into Belly River acreage, acquiring assets expected to add 2,500 BOED for approximately C$105 million.