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Obsidian Energy Announces Intention to Launch Exchange Offer for Bonterra Energy
Obsidian Energy Announces Intention to Launch Exchange Offer for Bonterra Energy C...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n\n\n\nObsidian Energy Announces Intention to Launch Exchange Offer for Bonterra Energy\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, AB, Sept. 8, 2020\n\n\n\nCreates a Cardium Champion with enhanced scale and relevance\nAccretive across all equity metrics resulting in significant per share value appreciation to the benefit of both Obsidian Energy and Bonterra shareholders\nStabilize balance sheets, reduce debt and improve access to capital\nUp to C$100 million expected in identified financial, operational and other synergies over the first three years\nA far superior outcome compared to what either Obsidian Energy or Bonterra could achieve on a stand-alone basis, specifically including Bonterra's proposed BDC term facility\n CALGARY, AB, Sept. 8, 2020 /CNW/ - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (\"Obsidian Energy\", \"we\", or \"our\") today announced that, further to our August 31, 2020 press release, we intend to make an offer (the \"Offer\") to purchase all of the issued and outstanding common shares (the \"Bonterra Shares\") in the capital of Bonterra Energy Corp. (TSX – BNE) (\"Bonterra\") for consideration consisting of two common shares of Obsidian Energy (the \"Obsidian Shares\") for each Bonterra Share.\n\n \n \n\n\n\n\n\n\n\n \n\"We believe our Offer is in the best interests of Obsidian Energy and Bonterra shareholders\" said Interim President and Chief Executive Officer Stephen Loukas. \"The combination of our companies creates a 'Cardium Champion' with an improved cost structure, increased capital markets relevance and positions us favourably for further consolidation within the basin. The combination would result in significant cost savings and additional synergies, making the transaction accretive to both Obsidian...