$OBE

RBC Capital Adjusts Obsidian Energy Price Target to CA$17 From CA$18, Maintains Sector Perform Rating

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index rose 0.2%, and the Dow Jones US Utilities Index climbed 2.1%.The Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, according to Reuters.Front-month West Texas Intermediate crude oil decreased 0.1% to $68.51 a barrel, and the global benchmark Brent crude contract was up 0.1% at $71.62 a barrel. Henry Hub natural gas futures fell 0.5% to $3.20 per 1 million BTU.In sector news, US natural gas stocks increased by 87 billion cubic feet in the week ended June 26, larger than the 84 billion cubic feet increase expected in a survey compiled by Bloomberg and following an increase of 76 billion cubic feet in the previous week.In corporate news, Chevron's (CVX) Kilby power project differentiates the company from its global peers and could become a new earnings growth driver while supporting a higher valuation over time, UBS Securities said. The brokerage said in a note that the 2.67-gigawatt project, being developed with Joulent to supply power to a Microsoft (MSFT) data center under a 20-year agreement, could become one of the largest -- if not the largest -- behind-the-meter power projects developed to date. Chevron shares were up 2.1%.Obsidian Energy (OBE) said Thursday it closed the acquisition of Belly River light oil assets in the Wilson Creek area of Willesden Green for $98 million, adding 2,500 barrels of oil equivalent per day of light oil production and 35 sections of land. Obsidian Energy shares rose 0.6%.TotalEnergies (TTE) said it has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million. TotalEnergies shares added 2.4%.Tsakos Energy Navigation (TEN) said it placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in Q1 2029. Tsakos shares jumped past 5%.

Obsidian Energy Closes Acquisition of Belly River Light Oil Assets for $98 Million

Obsidian Energy (OBE) said Thursday it closed the acquisition of Belly River light oil assets in the Wilson Creek area of Willesden Green for $98 million, adding 2,500 barrels of oil equivalent per day (boe/d) of light oil production and 35 sections of land.The company said it has planned a six-well development program on the acquired lands for early 2027, expected to drive further incremental production growth, according to a statement.Willesden Green is poised to grow toward sustained production of 20,000 boe/d, resulting in considerable free cash flow for shareholders, the company said.The company added that it also boosted its fiscal 2026 average production guidance to 29,000 boe/d to 31,000 boe/d from 27,900 boe/d to 29,900 boe/d earlier. It now expects funds flow from operations of $4.64 per share.Price: $7.87, Change: $-0.08, Percent Change: -1.01%

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks advanced late Wednesday afternoon with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index was little changed, and the Dow Jones US Utilities Index shed 0.3%.Crude oil futures rose as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington, the Wall Street Journal reported. Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, the report said.West Texas Intermediate crude oil climbed 2.2% to $95.80 a barrel, and global benchmark Brent rose 1.8% to $97.74 a barrel. Henry Hub natural gas futures increased 2.2% to $3.24 per 1 million BTU.In corporate news, Xcel Energy's (XEL) Colorado utility unit reached a non-unanimous settlement agreement in its electric rate case before the Colorado Public Utilities Commission, and the company reaffirmed its 2026 EPS guidance of $4.04 to $4.16. The stock declined 1%.JinkoSolar (JKS) will enter the data-center business, supplying power directly from its plants to meet growing AI-driven demand, Nikkei Asia reported. JinkoSolar shares fell 0.9%.CMS Energy (CMS) said Wednesday that it has appointed Sri Maddipati as executive vice president and chief financial officer of the company and its primary business Consumers Energy. CMS Energy shares were down 2.1%.Obsidian Energy (OBE) agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million). Obsidian shares fell 1.1%.

Sector Update: Energy Stocks Gain Wednesday Afternoon

Energy stocks gained Wednesday afternoon with the NYSE Energy Sector Index rising 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index advanced 0.1%, and the Dow Jones US Utilities Index climbed 0.2%.Crude oil futures rose as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington, the Wall Street Journal reported. Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, the report said.West Texas Intermediate crude oil climbed 2.6% to $96.19 a barrel, and global benchmark Brent rose 2.2% to $98.08 a barrel. Henry Hub natural gas futures increased 2.2% to $3.24 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell 16 million barrels in the week ended Friday following a decrease of 12.4 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined 8 million barrels after a drop of 3.3 million in the previous week, larger than the 3.1 million fall expected in a survey compiled by Bloomberg.In corporate news, Xcel Energy's (XEL) Colorado utility unit reached a non-unanimous settlement agreement in its electric rate case before the Colorado Public Utilities Commission, and the company reaffirmed its 2026 EPS guidance of $4.04 to $4.16. The stock rose 0.6%.Obsidian Energy (OBE) agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million). Obsidian shares fell 0.2%.Opal Fuels (OPAL) and GFL Environmental (GFL) said construction is advancing on two renewable natural gas facilities at the Stones Throw Landfill in Alabama and the Grady Road Landfill in Georgia. Opal shares fell 1.1%.

Sector Update: Energy Stocks Advance Premarket Wednesday

Energy stocks were advancing premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% higher.The United States Oil Fund (USO) was up 1.6% and the United States Natural Gas Fund (UNG) was 0.4% lower.Front-month US West Texas Intermediate crude oil was 1.7% higher at $95.38 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.6% to $97.57 per barrel, and natural gas futures were down 0.2% at $3.16 per 1 million British Thermal Units.Obsidian Energy (OBE) stock was up more than 1% after the company said it has agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million).OPAL Fuels (OPAL) and GFL Environmental (GFL) said construction is advancing on two renewable natural gas facilities at the Stones Throw Landfill in Alabama and the Grady Road Landfill in Georgia. Shares of OPAL Fuels were up more than 2% pre-bell.

Sector Update: Energy

Energy stocks were advancing premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% higher.The United States Oil Fund (USO) was up 1.6% and the United States Natural Gas Fund (UNG) was 0.5% lower.Front-month US West Texas Intermediate crude oil was 1.6% higher at $95.24 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.5% to $97.46 per barrel, and natural gas futures were down 0.4% at $3.15 per 1 million British Thermal Units.Obsidian Energy (OBE) stock was up more than 1% after the company said it has agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million).

Obsidian Energy to Buy Belly River Assets for $75.8 Million

Obsidian Energy (OBE) said Tuesday it has agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million).The company said the deal, expected to close around June 30, includes about 2,500 boe/d of production, 76% of which is oil, and 35 net sections of land.The acquisition, which would be funded through existing cash and credit facilities, will increase its Willesden Green land position to about 290 net sections and lift corporate production to roughly 31,400 boe/d based on the midpoint of its 2026 guidance, the company said.Obsidian Energy said the agreement also includes a contingent value payment of up to CA$7 million tied to future WTI oil prices, payable between Q3 and Q2 2027.

RBC Capital Adjusts Price Target on Obsidian Energy to CA$18 From CA$14, Maintains Sector Perform Rating

Earnings Flash (OBE) Obsidian Energy Reports Q1 Basic and Diluted Loss $0.28 Vs Profits of $0.21 and $0.20 Respectively a Year Earlier