InPlay Oil Corp. has advanced its strategic growth by welcoming Delek Group Ltd. as a new shareholder following Obsidian Energy Ltd.'s agreement to sell its 9.1 million common shares in InPlay to Delek. This transaction, scheduled to close in the first half of August 2025, introduces Delek as a strategic shareholder while granting it the right to nominate two directors to InPlay's board, signaling a strong partnership between the two energy companies.
Doug Bartole, CEO of InPlay, expressed enthusiasm about the collaboration, highlighting Delek's impressive track record in the energy sector, including its significant roles in Ithaca Energy and the development of the Mediterranean's largest natural gas field. This partnership is expected to bring valuable expertise and resources to InPlay, further solidifying its position in the Western Canadian Sedimentary Basin where it focuses on sustainable oil and gas production. The strategic importance lies in Delek's proven capabilities enhancing InPlay's operational efficiency and growth potential in a competitive energy market.
The agreement includes comprehensive registration and investor rights, ensuring Delek's participation in future equity offerings through pre-emptive rights. This aspect underscores the long-term nature of the partnership and Delek's commitment to supporting InPlay's growth trajectory. For additional details on the announcement, visit https://ibn.fm/hGL6S. InPlay Oil Corp. is recognized for its disciplined approach to capital investment and commitment to delivering consistent returns to shareholders, with operations centered around a diverse portfolio of oil and natural gas assets aimed at long-term value creation. Further information about InPlay and its initiatives is available at https://www.inplayoil.com/.
