Obsidian Energy Ltd. (TSX:OBE) has entered into a purchase and sale agreement to acquire Peace River Peavine and Gift Lake Clearwater production and sections of land for CAD 76 million on May 28, 2024. Total consideration paid for the Acquisition is expected to be approximately CAD 76 million (net of closing adjustments) composed of approximately CAD 46 million for base production and CAD 30 million for undeveloped land value. The Acquisition will be funded through debt financing and is expected to close no later than July 14, 2024.