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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 uwebb429on Nov 12, 2024 7:19pm
195 Views
Post# 36309250

Insider Buying

Insider Buying
Over the past 12 months, Obsidian Energy Ltd. shares were down about 25 per cent as of Nov. 6, lagging the S&P/TSX Capped Energy Index which was up slightly. Given Obsidian’s underperformance, it caught our attention to see director Edward Kernaghan buying. In the past, we have characterized Mr. Kernaghan as a value-oriented contrarian investor. As such, we find it notable that on Nov. 1 he bought 140,500 Obsidian shares at an average price of $7.87. In the third quarter, Obsidian produced an average of 39,714 barrels of oil equivalent per day.
 
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors.

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-edward-kernaghan-buys-as-obsidian-energy-stock-lags/
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