Obsidian Energy announces extension to our syndicated credit facility

CALGARY, AB – OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces the extension of our syndicated credit facility to October 31, 2020. The syndicated credit facility has an underlying borrowing base of $550 million and amount available to be drawn of $450 million which remains unchanged. Under the agreement, the syndicated credit facility continues to be available on a revolving basis until October 31, 2020, subject to further extensions, with the end date of the term period set at November 30, 2021. In connection with the extension, the lenders have the option to complete a borrowing base determination on October 31, 2020.