Obsidian Energy Ltd. announced the extension of syndicated credit facility to February 26, 2021 and provides an operational update on recent drilling and hedging activities. The Company has entered into an agreement with lenders to extend syndicated credit facility to February 26, 2021. The syndicated credit facility has an underlying borrowing base of $550 million with $450 million available to be drawn; both amounts remain unchanged from the previous facility. Under the agreement, the syndicated credit facility continues to be available on a revolving basis until February 26, 2021, subject to further extensions, with the end date of the term period remaining on November 30, 2021. In connection with the extension, the lenders have the option to complete a borrowing base redetermination on February 26, 2021.