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OBE - Obsidian Energy: Credit Facility Extension Situation Is Concerning
Obsidian Energy Ltd.
Obsidian Energy (OBE) appears likely to have an eventful next month. Its credit facility needs to be "extended on or prior to February 28", otherwise its outstanding balance would be due on November 30.
The lack of news around an extension suggests that Obsidian may need to finalize a major asset sale and/or secure alternative financing in order for its credit facility to be extended.
Although Obsidian's assets may have a significant amount of positive value (over its debt) in the right scenario, the lack of news about the credit facility extension has