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Obsidian Energy Ltd T.OBE

Alternate Symbol(s):  OBE

Obsidian Energy Ltd. is a Canada-based exploration and production company. The Company operates in one segment, to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. It has a portfolio of assets producing around 35,700 barrels of oil equivalent (boe) per day. Its operating areas include Cardium, Peace River and Viking areas of Alberta. Its Cardium asset is a fully delineated and de-risked asset. It is focused on manufacturing repeatable low-decline and high-netback light-oil wells across its Cardium land base. The Viking is a light oil, horizontal development play located in central Alberta. Its operations are focused on the Esther area. Peace River is a stable, cold-flow, base production asset. It operates on a contiguous and an acreage within the heart of the Peace River Oilsands region.


TSX:OBE - Post by User

Post by JohnJBondon May 31, 2022 5:59pm
183 Views
Post# 34721506

Block Trade

Block TradeThere appears to have been a good block trade at the end of the day.

I didn't see it in real time.

My two systems are giving different numbers.

One shows 1.573 million shares at market close on TSX.

The other shows 2.17 million shares in the last 5 min.

I can't see the price, but it appears to be C$12.24

Given the trading pattern, it also appears to have been driving by a buyer, rather than seller.   Looks like someone sold the price down during the day on thin volume, then got the block at a 20-40c premium.

If anyone has the exact details please feel free to share.

Either way, someone spent about $20 million ish on OBE shares in one go today.

If they had $20 million to spend today, they may have more.    Moreover, they may also have been buying smaller amounts for sometime, and decided to take this block.

It will be interesting to see what happens next.     Is this a fund that just wants a position?   If so, how big is the fund, and how much more would they like to position in OBE given that its apparently been approved by their investing committee?

Alternatively, is this the start of a takeover - is someone on their way to crossing the 10% reporting threshold?
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