08:05 AM EDT, 03/15/2024 (MT Newswires) -- Obsidian Energy Ltd. ( OBE ) said overnight Thursday that it has completed an offer to purchase up to $2.0 million of its outstanding 11.95% senior unsecured notes due July 27, 2027.

The company said the offer expired on March 11 and was oversubscribed, with about $49.2 million aggregate principal amount of notes validly tendered prior to the deadline.

Upon completion of the offer, Obsidian said it has $114.2 million of notes outstanding.

The company gained 1.3% at last look in US pre-market trading after rising 4.8% in Canada yesterday.