Obsidian Energy Ltd. (OTCMKTS:OBELF) Stock Extends Rally To 35% In a Week

Obsidian Energy Ltd. (OTCMKTS:OBELF) was up 7% and 35% in a week. The company announced that, as of December 31, 2021, it had completed a one-time amendment of its syndicated credit facility.

Market Stats

On Tuesday, OBELF stock gained 7.20% to $5.97 with more than 510k shares, compared to its average volume of 164K shares. The stock has moved within a range of $5.56 – 6.03 after opening trading at $5.74.

Obsidian Energy Announces Updates to Our Syndicated Credit Facility and Senior Notes

As a result, our total commitment amount has been reduced to $366.8 million from $415 million previously. Notably, the syndicate line of credit included a one-off amendment that reduced its undrawn capability to $35 million as of December 31, 2021. The company used borrowing above that amount to decrease the amount owed on its non-revolving credit facility and senior notes.

Interestingly, Obsidian Energy now has a syndicated term loan with a total balance available of $366.8 million, comprising of a $260 million credit facility as well as a $106.8 million non-revolving credit line, as a result of this modification. Additionally, due to the adjustment, Obsidian made a $5.7 million settlement on its senior notes, bringing its total outstanding amount ofsenior notes to around $37.7 million. So in the coming weeks, investors should watch OBELF.

Traders Corner

OBELF stock is trading above the 20-Day and 50-Day Moving averages of $4.45 and $3.88 respectively. Moreover, the stock is trading above the 200-Day moving average of $2.98.