Obsidian Energy is an intermediate-sized oil and gas producer with a well-balanced portfolio of high-quality assets producing around 30,000 boe per day.

Obsidian Energy is an intermediate-sized oil and gas producer based in Calgary, AB with a well-balanced portfolio of high-quality assets, primarily in the Peace River, Willesden Green and Viking areas. Currently producing around 30,000 boe per day, our principal business consists of the exploration, development and production of petroleum resources, providing energy to fuel people’s lives. These assets, and the organization we have crafted around them, provide the right platform to deliver bottom-line results, and an entrepreneurial spirit that will allow us to succeed in this evolving industry.

With a proven track record as one of the most efficient companies among our peers, our solid asset portfolio, experienced team and shareholder return strategy continues to deliver value to stakeholders. We are proud of our commitment to practices that include creating a culture where the individual and our communities are valued, and implementing best-in-class governance practices to ensure we are acting in the interests of our stakeholders.

Obsidian Energy is a company based on discipline, relentless passion for the work we do, and resolute accountability to our shareholders, our partners and the communities in which we operate.

Key Corporate Information

‘Obsidian Energy’ is named after a naturally occurring volcanic glass with a similar sheen to crude oil. Obsidian is created through a geological process transforming into a substance of strength, dependability, and longevity.

Like the mineral we are named after, the Company has gone through several corporate changes throughout its history. Through these changes, we have simplified our corporate structure [SS1] to better facilitate our business and make Obsidian Energy stronger and better.  The key corporate transactional dates in our recent history are shown below.

• April 7, 2025:  Closed sale of operated Pembina assets for ~$320 million, rationalizing asset base and improving financial leverage with cash proceeds reducing debt level
• May 1, 2024:  Acquired 148 net sections of land and 1,700 boe/d of production through Peace River acquisition, expanding holdings in key future growth area
•  February 23, 2023:  Share buyback program initiated through normal course issuer bid, approved by the TSX
• July 27, 2022:  Completed private placement of senior unsecured notes
• January 26, 2022:  OBE began trading on the NYSE American exchange
• November 2, 2021:  Acquired remaining 45% interest in the Peace River Oil Partnership
• June 10, 2019:  Trading on post-consolidation (reverse split) basis (7:1 basis) commences; approved at 2019 AGM
• June 26, 2017:  The Company’s shareholders formally approved an amendment to its articles, changing the name of the company from Penn West Petroleum Ltd. to Obsidian Energy Ltd.
• December 30, 2013: Deadline for Penn West Energy Trust unitholders to convert trust units into common shares of Penn West Petroleum
•  January 1, 2011:  Penn West Energy Trust converted back into the corporate entity of Penn West Petroleum Ltd.; each trust unit traded for one common share

For any corporate changes prior to 2011, please review our corporate filings on SEDAR+ or EDGAR or contact our transfer agent.

Formerly Penn West Petroleum Ltd. 

On June 26th, 2017, the Company formally changed its name to Obsidian Energy Ltd. from Penn West Petroleum Ltd. As Penn West, we underwent significant changes throughout the organization, changes that have affected every aspect of our business and have led us to redefine the Company and where and how it grows from here. 

We’ve reemerged stronger, leaner and more capable than ever, as we head down this new exciting path as Obsidian Energy.

Links to our current corporate documents:

• Certificate of Amalgamation
• Articles of Amalgamation
• Articles of Amalgamation – Registration Statement