Obsidian Energy (OBE) has notable insider buying

Obsidian Energy (T:OBE)

Obsidian Energy Ltd. (OBE) has a high amount of executive buying compared to its mid-cap peers over the past three months. Stephen Loukas, a Director, acquired 55,000 Common Shares on an indirect ownership basis for registered holder FrontFour Capital Group LLC Managed Accounts at prices ranging from $1.142USD and $1.148USD through the public market between July 9th, 2018 and July 11th, 2018. This represents a $82,575 investment into the company's shares and an account share holdings change of 1.5%.

Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium. The Cardium is concentrated on the low-decline and high-netback light-oil production. The Company is focused on an integrated waterflood approach in which it maintain reservoir pressure from the start of production to reduce decline rates on new wells. The Peace River operates in a crude oil resource industry.