Obsidian Energy Announces Closing of $175 Million, 5-Year Senior Unsecured Notes Due in 2030 and Redemption of Existing $80.8 Million Senior Unsecured Notes Due in 2027

Core Viewpoint - Obsidian Energy has successfully closed a private placement offering of $175 million in senior unsecured notes due in 2030, while redeeming existing notes due in 2027, thereby restructuring its debt profile and improving financial flexibility [1][2]. Group 1: Financial Details - The company issued $175 million of 8.125% five-year senior unsecured notes due December 3, 2030, at par [1]. - A portion of the proceeds from the offering was used to redeem $80.8 million of 11.95% senior unsecured notes due July 27, 2027 [2]. - The remaining proceeds were allocated to pay down debt under a $235 million syndicated credit facility, which had approximately $8 million outstanding at closing [2]. Group 2: Underwriters and Regulatory Information - BMO Capital Markets and RBC Capital Markets acted as bookrunners for the offering [3]. - The 2030 Notes are not registered under U.S. securities laws and are offered only under applicable exemptions [3]. Group 3: Company Overview - Obsidian Energy is an intermediate-sized oil and gas producer with a diverse portfolio of high-quality assets primarily located in Alberta [5]. - The company focuses on exploring, developing, and holding interests in oil and natural gas properties within the Western Canada Sedimentary Basin [5].