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Josef SchachterObsidian EnergyOBE.TODON'T BUYApr 22, 2016

The big issue is that they have a lot of debt. As their problems occurred, they had to sell, sell and sell. They now have $1.94 billion of debt, which is $3.86. BV is $5.84, so it is trading at a significant discount. Has long term debt out to 2020-2025. The big issue is that they took out $700 million impairment last year, and $1.1 billion the year before. They need a $45 number at the end of the year to not have another impairment. 2015 operating costs are higher than they should be. This is a Lottery 649 ticket.

Josef SchachterJosef Schachter
Unknown
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$1.38

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
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DON'T BUY

Obsidian Energy(OBE.TO)

Nov 17, 2025

Somewhat contentious CEO. Fairly good well results. Market cap is so small as to be beyond irrelevant for almost all institutional investors. Better names to own.

Photo of Eric NuttallEric Nuttall
No
Unlock Rating
$8.55

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Mar 04, 2022
Not a good investment with current management team. Other energy companies available with better opportunities.
Photo of Eric NuttallEric Nuttall
No
Unlock Rating
$10.77

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Nov 05, 2021
Did a buyout that diluted their stock materially. There is pure inventory but with Clearwater optionality. Need a new Board, new CEO and not a name he would own now.
Photo of Eric NuttallEric Nuttall
No
Unlock Rating
$4.88

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
PAST TOP PICK

Obsidian Energy(OBE.TO)

Oct 23, 2019
(A Top Pick Oct 22/18, Down 88%) He sold at $3.22, taking a big loss. They have a lot of worries. They are looking to sell the company. They might just liquidate the company, but clean up could be very expensive. He does not like stock consolidations and used that as a trigger to get out. He would not buy this now. He made a mistake -- when debt came down, so too did revenues.
Photo of Benj GallanderBenj Gallander
No
Unlock Rating
N/A

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Oct 10, 2019
The question is their ability to grow. They are going to try to sell the company. They have had declining volumes.
Photo of Josef SchachterJosef SchachterUnlock Rating
$0.85

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
RISKY

Obsidian Energy(OBE.TO)

Sep 16, 2019
They have put themselves up for sale. They are a Cardium player with quite a bit of debt. They have a lot of non-producing wells. People are worried about how much value there really is in the company after debts are paid off.
Photo of Josef SchachterJosef Schachter
Owned
Unlock Rating
$1.39

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
PAST TOP PICK

Obsidian Energy(OBE.TO)

Apr 23, 2019
(A Top Pick Apr 18/18, Down 65%) There could still be a takeover. Their revenues are way down while debt has gone way up. He's moved on.
Photo of Benj GallanderBenj Gallander
No
Unlock Rating
$0.51

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Apr 18, 2019
New interim president and CEO. Pretty good numbers on cardium wells. Issue is the debt. Debt is 22% of equity, but it's going the wrong way. Declining production and volumes. Not as attractive as the others. Need to show they can grow core numbers of the cardium. Guidance is negative. Capex is about equal to cash flow.
Photo of Josef SchachterJosef SchachterUnlock Rating
$0.43

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
WATCH

Obsidian Energy(OBE.TO)

Mar 28, 2019
He is watching it. The company is not going to keep their volumes flat. The CEO changed. They are guiding down on production while spending on CAP-X. He is keeping an eye on them.
Photo of Josef SchachterJosef Schachter
No
Unlock Rating
$0.39

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
HOLD

Obsidian Energy(OBE.TO)

Feb 19, 2019
A takeover candidate? He was wrong with this. He recently moved it from a buy to a hold. It's high-risk and high-reward, has "danger" written across it. He likes the idea of a takeover, but doesn't know if it'll happen. This could be a good play in oil/gas with a lot of potential. He hasn't sold it, but at the same bankruptcy remains a real possibility.
Photo of Benj GallanderBenj Gallander
Owned
Unlock Rating
$0.50

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Dec 17, 2018
He is watching it but it is not on his list right now. They are not experiencing very good growth right now. Their debt keeps going up. There are better names with more upside of growth.
Photo of Josef SchachterJosef SchachterUnlock Rating
$0.59

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Nov 19, 2018
The company has 19% debt and not a bad balance sheet, in his opinion. Book value is $3.90. It is not on his coverage list because they dropped production in their third quarter. They are spending money and not producing the assets they had before. However, this one is cheap.
Photo of Josef SchachterJosef SchachterUnlock Rating
$0.80

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
DON'T BUY

Obsidian Energy(OBE.TO)

Nov 14, 2018
Their debt level is too high for her right now. Debt levels are so important in a cyclical businesslike the energy space. They will be hurt by recent weakness in oil prices.
Photo of Joanne A. Hruska, CFAJoanne A. Hruska, CFA
No
Unlock Rating
$0.70

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
TOP PICK

Obsidian Energy(OBE.TO)

Oct 22, 2018

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.

Photo of Benj GallanderBenj Gallander
Owned
Unlock Rating
$1.02

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas
HOLD

Obsidian Energy(OBE.TO)

Aug 02, 2018

It 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.

Photo of Benj GallanderBenj GallanderUnlock Rating
$1.36

Stock price when the opinion was issued

$15.01

As of Jun 09, 2026. Market Open.

oilgas

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