Obsidian Energy Closes Acquisition of Belly River Light Oil Assets for $98 Million

MT Newswires Live

07/03

Obsidian Energy (OBE) said Thursday it closed the acquisition of Belly River light oil assets in the Wilson Creek area of Willesden Green for $98 million, adding 2,500 barrels of oil equivalent per day (boe/d) of light oil production and 35 sections of land.

The company said it has planned a six-well development program on the acquired lands for early 2027, expected to drive further incremental production growth, according to a statement.

Willesden Green is poised to grow toward sustained production of 20,000 boe/d, resulting in considerable free cash flow for shareholders, the company said.

The company added that it also boosted its fiscal 2026 average production guidance to 29,000 boe/d to 31,000 boe/d from 27,900 boe/d to 29,900 boe/d earlier. It now expects funds flow from operations of $4.64 per share.

Price: 7.87, Change: -0.08, Percent Change: -1.01

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