Obsidian Energy to buy Belly River light oil assets for $105 million cash

• Obsidian Energy agreed to buy Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management.
• Cash consideration set at CAD 105 million, or about CAD 96 million net of closing adjustments; closing expected around June 30, 2026.
• Deal adds about 2,500 boe/d of production, 76% oil, plus 35 net sections; pro forma corporate output seen at about 31,400 boe/d.
• Includes a contingent value payment of up to CAD 7 million tied to average WTI prices from Q3 2026 through Q2 2027.
• Net debt to funds flow from operations projected at about 1.1x at year-end 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Obsidian Energy Ltd. published the original content used to generate this news brief via Newsfile (Ref. ID: 202606022000NEWSFILECNPR____20260602_299898_1) on June 03, 2026, and is solely responsible for the information contained therein.