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. Edward Hume Kernaghan, a Director, acquired 18,700 Common Shares on an indirect ownership basis for registered holder Kernwood Ltd. at prices ranging from $8.350 and $8.400 through the public market on May 5th, 2023. This represents a $157,019 investment into the company's shares and an account share holdings change of 18.7%.

Obsidian Energy Ltd. is a Canada-based exploration and production company. The Company operates in one segment, to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. It has a portfolio of assets producing around 25,000 barrels of oil equivalent (boe) per day. Its operating areas include Cardium, Peace River and Viking areas of Alberta. Its Cardium asset is a fully delineated and de-risked asset. It is focused on manufacturing repeatable low-decline and high-netback light-oil wells across its Cardium land base. The Viking is a light oil, horizontal development play located in central Alberta. Its operations are focused in the Esther area. Peace River is a stable, cold-flow, base production asset. It operates a contiguous and an acreage within the heart of the Peace River Oilsands region.