Obsidian Energy (OBE.TO, OBE) edged down in pre-market New York trading after the company swung to a fourth-quarter loss on a one-time charge and weaker oil and gas prices.

The company said it lost $284.8 million, or $3.83 per share, compared to a year-prior profit of $34.3 million, or $0.42. Funds flow rose rose 11% to $107.7 million, or $1.39, from $97.0 million, or $1.18.

Obsidian said the loss came as it took a non-cash charge against earnings after putting some Alberta assets up for sale. It did not disclose the size of the charge, but the properties were sold earlier this month for $320 million.

The company said its oil and gas production in the quarter rose 25% to 40,119 barrels of oil equivalent per day, while its gross profit per barrel equivalent slipped to $57.94 per barrel equivalent from $59.08.

Revenue was not disclosed.

Obsidian also released spending and production guidance for the first half of 2025. It expects to spend around $190 million on capital projects, with first half oil and gas production of 33,800 boe/d, down 3% from the prior-year half following the asset sale.

"The decision to enter into an agreement to sell our operated Pembina assets through the transaction further focuses our company and provides us with significantly enhanced liquidity and future optionality to add shareholder value. As such, we are evaluating our development plans for the second half of the year and expect to provide full-year guidance in June," chief executive Stephen Loukas said in a release.

The company's shares were last seen down US$0.01 to US$5.81 pre-market. They closed down $0.23 to $8.32 Monday on the Toronto Stock Exchange.