Obsidian Energy Ltd. announced reconfirmation of its existing credit facility. As previously disclosed, the Company has a reserve-based syndicated credit facility which is subject to a semi-annual borrowing base redetermination typically in May and November of each year. During the third quarter of 2019, the Company reached an agreement (the "Agreement") with its lenders whereby the underlying borrowing base of the syndicated credit facility and the amount available to be drawn under the syndicated credit facility remain at $550 million and $460 million, respectively. Under the Agreement, the Company had, among other things, a reconfirmation date scheduled for January 20, 2020, whereby the commencement of the term-out period may have been accelerated on January 30, 2020. The syndicate lenders have advised they are not terming out the facility and the borrowing base remains unchanged. Also, under the Agreement, a borrowing base redetermination is scheduled for February 28, 2020 when the revolving period is scheduled to end unless extended with the consent of the lenders. If the facility is not extended on or prior to February 28, 2020, the Company would not be allowed to further draw on the syndicated credit facility and the amount outstanding would be due on November 30, 2020.