On Sept. 21, Obsidian Energy OBE-T announced a 3-year growth plan focusing on its Peace River assets. Obsidian hopes to produce 50,000 barrels of oil equivalent a day (76 per cent liquids) by mid-2026 from 32,937 boe/d (65 per cent liquids) in Q3, 2023. The stock rallied on the news but has since given up those gains as crude oil prices sagged. As the stock traded below $10.50, insiders started buying again. CEO Stephen Loukas bought 2,600 shares at an average price of $10.08 while chairman Gordon Ritchie bought 6,000 shares at $10.01.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon