AcquisitionsJul 2, 2026, 09:26 AM
Obsidian Energy Closes Acquisition, Raises 2026 Production Guidance
AI Summary
Obsidian Energy has closed its previously announced acquisition of Belly River light oil assets in the Wilson Creek area for approximately $98 million. This acquisition adds about 2,500 boe/d of high-quality production and expands the company's land position. As a result, Obsidian Energy has increased its 2026 production guidance to 29,000–31,000 boe/d and anticipates significant production growth in 2027, including a planned six-well development program on the acquired lands.
Key Highlights
- Acquisition of Belly River light oil assets closed on June 30, 2026.
- Acquisition added approximately 2,500 boe/d of production (76% liquids).
- Total consideration for the acquisition was approximately $98 million.
- Updated 2026 production guidance to 29,000–31,000 boe/d (midpoint 30,000 boe/d).
- Targeting approximately 22% total production growth in 2027.
- Targeting approximately 28% light oil production growth in 2027.
- Planned six-well development program on acquired lands for early 2027.
- 2026 capital program remains unchanged at $300 million to $325 million.
Price Impact
More from OBE