Welcome to our dedicated page for Obsidian Energy SEC filings (Ticker: OBE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Obsidian Energy Ltd. filings document the regulatory disclosures of a Canadian oil and gas producer with assets primarily in Alberta. The company files Form 6-K reports as a foreign issuer and annual Form 40-F materials, including financial statements, management discussion and analysis, and oil and gas reserve disclosures tied to National Instrument 51-101 reporting.
Its filings also cover quarterly and annual operating results, capital expenditures, production and reserve information, normal course issuer bid activity, share-based compensation plans, proxy materials, director elections, auditor appointments, executive compensation votes and shareholder approvals for equity incentive plans.
Obsidian Energy is acquiring high-return Belly River light oil assets in the Wilson Creek area of Willesden Green for an unadjusted $105 million in cash, or about $96 million net of estimated closing adjustments. The deal adds roughly 2,500 boe/d of production (76% oil) and 35 net sections of land, making the company the largest Belly River producer and described as immediately accretive to funds flow from operations.
The acquired assets carry proved plus probable reserves of 13.6 MMboe with a 2P acquisition cost of $17.20/boe including future development capital and a 2P reserve life index of about 15 years. A planned six-well program in 2027 is expected to lift acquired production to around 3,000 boe/d, generating approximately $45 million in net operating income and $15 million of free cash flow at US$72.50/bbl WTI. Pro forma, corporate production is projected at about 31,400 boe/d with higher liquids weighting, while net debt to funds flow from operations is projected near 1.1x at year-end 2026, indicating the balance sheet remains conservative.
Obsidian Energy updated its 2026 plan, raising the capital program by about $100 million to $300–$325 million to accelerate development in its Alberta light and heavy oil assets. Despite higher spending, 2026 average production guidance is unchanged at 27,900–29,900 boe/d, as most extra activity is weighted to late 2026.
Using higher oil price assumptions of US$80/bbl WTI for July–December 2026, the Company now forecasts 2026 Funds Flow from Operations of $317 million or $4.74 per share, up from prior guidance of $225 million or $3.36. Forecast net debt to FFO improves from 1.2x to about 0.9x, even as free cash flow at the midpoint shifts from $7 million to a modest $(4) million.
The plan targets roughly 15% total production growth in 2027, including about 22% growth in light oil, driven by expanded Belly River and Cardium drilling at Willesden Green and an enlarged Clearwater waterflood program at Peace River. Heavy oil capital rises to about $110 million and light oil to about $200 million, while a New Ventures program will invest around $10 million in exploratory drilling on newly acquired lands, including part of the now approximately 830 Peace River sections.
Royal Bank of Canada reports beneficial ownership of 4,415,055 shares of Obsidian Energy Ltd. The filing shows 4,415,055 shares representing 6.55% of Obsidian Energy Ltd common stock as of 03/31/2026, with shared voting and dispositive power. The disclosure is provided on a Schedule 13G and is signed by a RBC Managing Director on 05/14/2026.
Obsidian Energy Ltd. reported that shareholders approved all resolutions at the May 7, 2026 annual and special meeting. KPMG LLP was reappointed as auditor, and seven management nominees were elected to the board with support ranging from 90.8% to 97.7% of votes cast.
Shareholders backed the company’s approach to executive compensation with 84.3% of votes in favour. They also approved amendments to the stock option plan and authorized all unallocated options and share unit awards under the company’s equity plans until May 7, 2029, each resolution receiving around 91% support.
Obsidian Energy Ltd. reported that shareholders approved all resolutions at the May 7, 2026 annual and special meeting. KPMG LLP was reappointed as auditor, and seven management nominees were elected to the board with support ranging from 90.8% to 97.7% of votes cast.
Shareholders backed the company’s approach to executive compensation with 84.3% of votes in favour. They also approved amendments to the stock option plan and authorized all unallocated options and share unit awards under the company’s equity plans until May 7, 2029, each resolution receiving around 91% support.
Obsidian Energy Ltd. reported first quarter 2026 results marked by lower production and a hedging-driven loss after the prior year’s asset sale. Average production was 28,733 boe/d versus 38,416 boe/d in 2025, reflecting the April 2025 Pembina disposition and a shift toward Peace River heavy oil.
Funds flow from operations was $61.0 million ($0.91 per share basic), down from $100.1 million ($1.36 per share) a year earlier, while the company posted a net loss of $18.7 million versus net income of $15.4 million, mainly due to realized and unrealized losses on oil hedges as prices spiked in March.
Capital expenditures were $79.7 million, focused on drilling and waterflood projects in Peace River and Willesden Green, and free cash flow was negative $20.4 million. Netback fell to $26.76/boe from $33.10/boe, and net debt rose to $279.8 million, partly from spending and share repurchases.
The company renewed its normal course issuer bid, repurchasing and cancelling about 1.5 million shares for $18.1 million in the quarter, and has retired roughly 23% of shares since 2023. It also expanded prepaid equity forward contracts to 5,125,000 shares at a weighted average price of $9.56 to manage share-based compensation exposure.
Obsidian Energy Ltd. reported first quarter 2026 results marked by lower production and a hedging-driven loss after the prior year’s asset sale. Average production was 28,733 boe/d versus 38,416 boe/d in 2025, reflecting the April 2025 Pembina disposition and a shift toward Peace River heavy oil.
Funds flow from operations was $61.0 million ($0.91 per share basic), down from $100.1 million ($1.36 per share) a year earlier, while the company posted a net loss of $18.7 million versus net income of $15.4 million, mainly due to realized and unrealized losses on oil hedges as prices spiked in March.
Capital expenditures were $79.7 million, focused on drilling and waterflood projects in Peace River and Willesden Green, and free cash flow was negative $20.4 million. Netback fell to $26.76/boe from $33.10/boe, and net debt rose to $279.8 million, partly from spending and share repurchases.
The company renewed its normal course issuer bid, repurchasing and cancelling about 1.5 million shares for $18.1 million in the quarter, and has retired roughly 23% of shares since 2023. It also expanded prepaid equity forward contracts to 5,125,000 shares at a weighted average price of $9.56 to manage share-based compensation exposure.
Obsidian Energy reports a strong start to 2026, highlighting high‑quality drilling results in its Peace River and Willesden Green assets and progress on Clearwater waterflood pilots. New Clearwater and Bluesky wells posted initial production rates up to 299 boe/d of 100% oil, with the Belly River 11-28 pad recently producing over 1,000 boe/d.
The Company reaffirms 2026 guidance for production of 27,900–29,900 boe/d with 73% oil and NGLs, capital spending of $190–$230 million and net operating costs of $14.00–$15.00/boe. Sensitivity cases show forecast FFO of $225 million under guidance pricing, rising to $300 million at US$70 WTI and $331 million at US$80 WTI. Obsidian has expanded oil hedging through 2026 with layered WTI swaps and collars and continues share repurchases under its normal course issuer bid.
Obsidian Energy Ltd. is asking shareholders to vote at its annual and special meeting on May 7, 2026 in Calgary on a broad package of governance, compensation and equity plan items.
Shareholders will receive 2025 financial statements, appoint KPMG as auditor, and elect seven directors, all current board members. They will also cast a non-binding advisory “say on pay” vote on the company’s executive compensation approach.
Key resolutions seek approval of amendments to the Stock Option Plan to lift the rolling cap on options from 9.0% to 10.0% of issued shares and remove a 2.0% three‑year annual grant rate limit. As of March 15, 2026, 67,571,737 common shares were outstanding, with 3,420,849 shares (about 5.06%) reserved for outstanding options and 2,261,968 shares (about 3.35%) for outstanding share unit awards, for a combined 8.41% equity-based overhang.
Shareholders are also being asked to re‑approve all unallocated options under the evergreen Stock Option Plan and all unallocated awards under the Restricted and Performance Share Unit Plan, which would allow new grants until May 7, 2029. The circular emphasizes equity incentives as a key tool to attract and retain employees while preserving cash, noting a 21% share count reduction through repurchases since 2023 and strong director share ownership and meeting attendance.
Obsidian Energy Ltd. received an updated large-shareholder disclosure from FrontFour-related investors. The amendment reflects changes in how these investors are grouped and the size of their reported stakes.
Based on 67,274,326 common shares outstanding as of December 31, 2025, FrontFour Master Fund directly owns 2,907,541 shares, or about 4.3% of the company, and FrontFour Capital Corp. directly owns 75,571 shares. Individual reporting persons include Stephen Loukas with 2,705,546 shares (about 4.0%) and David A. Lorber, who may be deemed to beneficially own 3,083,110 shares (about 4.6%), while Zachary George may be deemed to beneficially own 2,983,112 shares (about 4.4%).
Effective March 11, 2026, FrontFour Capital adopted an information barrier that separates Loukas’s board and officer role from FrontFour’s investment decisions. As a result, he is no longer part of the Section 13(d) group and this amendment acts as his exit filing. The remaining parties entered a new joint filing agreement on March 13, 2026, and as of March 12, 2026, the reporting persons collectively ceased to beneficially own more than 5% of Obsidian Energy’s outstanding shares.
Obsidian Energy Ltd. received Toronto Stock Exchange approval to renew its normal course issuer bid, allowing the company to repurchase up to 6,458,536 common shares, equal to 10 percent of its public float as of February 17, 2026, between March 3, 2026 and March 2, 2027.
The company had 67,306,951 common shares outstanding and a public float of 64,585,363 shares on that date. It fully utilized its prior NCIB by repurchasing 7,144,408 shares at a volume-weighted average price of about $7.16 per share. Management believes buybacks at certain prices can enhance per-share metrics and has set up an automatic securities purchase plan to continue repurchases during blackout periods.