CALGARY, July 1, 2019 /CNW/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces the Company’s banking syndicate has extended the syndicated credit facility redetermination date until August 30, 2019 as we progress through the necessary provisions in regard to the Peace River Oil Partnership (“PROP“) disposition and continue to evaluate the potential of an unsecured bond offering, which remains subject to market conditions and acceptable terms. The borrowing base under the syndicated credit facility continues to be $550 million with capacity of $460 million during the extension period. Obsidian Energy anticipates closing the PROP disposition on or about July 31, 2019.