Opinions Christine Poole
Obsidian EnergyOBE.TODON'T BUYDec 09, 2014
Stock price when the opinion was issued
As of Jun 09, 2026. Market Open.
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Josef Schachter
Benj Gallander
They had over $3 Billion in debt but it is down to $408 Million due to them selling off a lot of assets. They had to hedge to survive and they all come off in the new year. The company loses money quarter after quarter, but that could change. There is huge insider buying. A major property of theirs came in on time and under budget.
Benj GallanderIt could be sold before the end of the year. Results today were not very good. They are looking to sell some of their properties. They have these hedges in place at $50 and the oil price is much higher now. They still have a fair amount of debt. He is happy to hold it. We will see more pieces coming off. It is still high risk due to the debt. This one might get taken over so he holds it.
Had new management come in. Yield of 18% implies that they are going to have to do another cut. They are trying to sell off assets and refocus. She wouldn’t put any money into energy producers until we see stabilization in crude oil. For investors wanting to step into energy companies, they should be really buying financially strong companies that have a strong balance sheet with a hedging program in place.