The cash proceeds from the transaction will be used to reduce debt, improving Obsidian Energy's balance sheet and liquidity.

Obsidian Energy (NYSE:OBE) +2.7% post-market Wednesday after saying it agreed to sell its operated Pembina assets, while retaining its non-operated holdings in the Pembina Cardium Unit #11, to InPlay Oil in a ~$320M deal,

Obsidian Energy to receive $220 million in cash, $85 million in equity and a 34.6 percent interest in the Willesden Green Cardium Unit #2 Field, subject to adjustment in certain circumstances Transact

Obsidian Energy (OBE) shares rose 7.3% in aftermarket trade on Wednesday after the company agreed to sell some of its assets to Calgary-based InPlay Oil Corp for C$320 million ($225 million). The company said it would receive C$220 million in cash,