Cardium. The pro forma entity would have production in excess of 35,000 boe/d, achieve a highly competitive WTI break-even price whilst maintaining production levels and benefit from a low corporate production decline rate when compared to light oil-weighted operators across the North American landscape. If the Bonterra Board of Directors feels a market check or similar process is necessary before effecting the proposed combination transaction, Obsidian Energy is prepared to consider non-preclusive deal protections and to permit a "go-shop" period on customary terms. Find related and similar companies as well as employees by title and much more. Obsidian Energy Announces Alberta Site Rehabilitation Program Awards and Hedging Update. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. View obe business summary and other industry information. Obsidian Energy is in the industry of: Petrochemicals, Chemicals, Petrochemicals, Glass & Gases, Electricity, Oil & Gas. We are seeking to deliver a path to enhanced underlying cash flow and asset value to meaningfully increase the equity value for both Obsidian Energy and Bonterra shareholders. Cision Distribution 888-776-0942 With respect to forward-looking statements contained in this document, Obsidian Energy has made assumptions regarding, among other things: the ability to complete the proposed combination, integrate Obsidian Energy's and Bonterra's businesses and operations and realize financial, operational and other synergies from the proposed combination; that each of Obsidian Energy, Bonterra and, following the proposed combination transaction, the combined company will have the ability to continue as a going concern going forward and realize its assets and discharge its liabilities in the normal course of business; the impact of regional and/or global health related events, including the ongoing COVID-19 pandemic, on energy demand; that the combined entity's operations and production will not be disrupted by circumstances attributable to the COVID-19 pandemic and the responses of governments and the public to the pandemic; global energy policies going forward, including the continued agreement of members of OPEC, Russia and other nations to adhere to existing production quotas or further reduce production quotas; Obsidian Energy's ability to execute on its plans as described herein and in its other disclosure documents and the impact that the successful execution of such plans will have on Obsidian Energy and, following the combination, the combined entity and the combined entities' respective stakeholders; that the current commodity price and foreign exchange environment will continue or improve; future capital expenditure levels; future crude oil, natural gas liquids and natural gas prices and differentials between light, medium and heavy oil prices and Canadian, WTI and world oil and natural gas prices; future crude oil, natural gas liquids and natural gas production levels, including that we will not be required to shut-in additional production due to the continuation of low commodity prices or the further deterioration of commodity prices and our expectations regarding when commodity prices will improve such that shut-in properties can be returned to production; future exchange rates and interest rates; future debt levels; the ability to execute our capital programs as planned without significant adverse impacts from various factors beyond our control, including weather, wild fires, infrastructure access and delays in obtaining regulatory approvals and third party consents; the combined entity's ability to obtain equipment in a timely manner to carry out development activities and the costs thereof; the combined entity's ability to market our oil and natural gas successfully to current and new customers; the combined entity's ability to obtain financing on acceptable terms; and the combined entity's ability to add production and reserves through our development and exploitation activities.
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