InPlay Oil Corp. has taken a significant step forward in its strategic growth by welcoming Delek Group Ltd. as a new shareholder. This development comes after Obsidian Energy Ltd. agreed to sell its 9.1 million common shares in InPlay to Delek, a transaction set to close in the first half of August 2025. The deal not only introduces Delek as a strategic shareholder but also grants it the right to nominate two directors to InPlay's board, signaling a strong partnership between the two entities.
Doug Bartole, CEO of InPlay, expressed enthusiasm about the collaboration, citing 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 agreement between InPlay and Delek includes comprehensive registration and investor rights, ensuring Delek's participation in future equity offerings through pre-emptive rights. This aspect of the deal underscores the long-term nature of the partnership and Delek's commitment to supporting InPlay's growth trajectory. For more details on the announcement, visit https://ibn.fm/hGL6S.
InPlay Oil Corp. is recognized for its disciplined approach to capital investment and its commitment to delivering consistent returns to shareholders. The company's operations are centered around a diverse portfolio of oil and natural gas assets, aiming for long-term value creation. Further information about InPlay and its initiatives can be found at https://www.inplayoil.com/.
