When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
OBE - Canceled Sale Of Non-Core Asset Is A Negative Development For Obsidian Energy Given Upcoming Debt Wall
Obsidian Energy Ltd.
The termination of the agreement to proceed with the sale of its PROP (Peace River Oil Partnership) assets announced yesterday is bad news for Obsidian Energy (OBE). In a previous article, I discussed this transaction was needed - but not enough - for the company to face its debt wall.
Management was also looking to sell some other assets. But, in the current challenging oil and gas environment in Canada, no other transaction was announced.
Now, the company is back to square one with its legacy assets. So, let's have a look