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Calgary, Alberta – OBSIDIAN ENERGY LTD. ( TSX: OBE ) (NYSE American: OBE) (“ Obsidian Energy “, the “ Company “, “ we “, “ us ” or “ our “) announces the extension of the revolving period in our syndicated credit facility to July 15, 2022, to accommodate timing associated with debt refinancing. We are also pleased to announce the return to development drilling in our Viking area, benefiting from our established inventory of quality locations and higher commodity prices. SYNDICATED CREDIT FACILITY UPDATE The Company has entered into an agreement with our lenders to extend the revolving period and borrowing base redetermination date under our syndicated credit facility to July 15, 2022, from May 31, 2022, to accommodate timing associated with the Company’s refinancing. The maturity date of both the syndicated credit facility and non-revolving term loan remain unchanged at November 30, 2022. As part of the extension, Obsidian Energy has agreed to an $8.7 million reduction of the syndicated credit facility with the aggregate amount available now set at $358.1 million, consisting of a $260.0 million revolving syndicated credit facility and a $98.1 million non-revolving term loan. Obsidian Energy also made a US$1.0 million repayment on […]
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