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OBE - Tamarack Valley And Obsidian Energy Need This Transaction
Obsidian Energy Ltd.
Tamarack Valley (OTC:TNEYF) released its Q1 results. With the recovery of Canadian oil prices since the beginning of the year, the company generated a strong total netback. But its reserves aren't huge, and management is looking for acquisitions.
In the meantime, Obsidian (OBE) needs to sell assets to face its debt wall and improve its profitability by focusing on the Cardium area. An acquisition of Obsidian's Viking assets by Tamarack Valley would make sense for both companies from the operational and financial perspectives.
Before discussing the potential transaction between Obsidian Energy