Key facts
- Highwood Asset Management is selling its Wilson Creek assets.
- Obsidian Energy is acquiring the Wilson Creek assets.
- The total transaction value is up to $112 million.
- The deal includes $95 million in cash and $17 million in Obsidian Energy shares.
- The transaction is expected to close in early November.
Highwood Asset Management has entered into an agreement to sell its Wilson Creek assets to Obsidian Energy. The total consideration for the sale is valued at up to $112 million. This amount is comprised of $95 million in cash and $17 million in common shares of Obsidian Energy. The transaction is anticipated to be finalized in early November. This strategic divestment allows Highwood Asset Management to focus on its core business areas while Obsidian Energy expands its asset base.