InPlay Oil Corp. has marked a pivotal moment in its strategic expansion by integrating Delek Group Ltd. into its shareholder base. This move follows Obsidian Energy Ltd.'s agreement to transfer its 9.1 million common shares in InPlay to Delek, with the transaction anticipated to conclude in the first half of August 2025. Beyond merely adding a new shareholder, this agreement empowers Delek to nominate two directors to InPlay's board, laying the groundwork for a robust collaborative relationship.
Doug Bartole, InPlay's CEO, highlighted the potential of this partnership, pointing to Delek's notable achievements in the energy sector, such as its influential positions in Ithaca Energy and the development of the Mediterranean's premier natural gas field. This alliance is poised to inject InPlay with critical expertise and resources, enhancing its operations in the Western Canadian Sedimentary Basin, where it is dedicated to sustainable oil and gas production.
The deal also encompasses detailed registration and investor rights, granting Delek pre-emptive rights in future equity offerings. This facet of the agreement reflects the enduring nature of the partnership and Delek's dedication to fostering InPlay's growth. For further insights into this development, visit https://ibn.fm/hGL6S.
InPlay Oil Corp. is distinguished by its prudent capital investment strategy and its focus on generating steady returns for its shareholders. The company's activities are anchored in a varied portfolio of oil and natural gas assets, aimed at achieving long-term value creation. Additional details about InPlay and its projects are available at https://www.inplayoil.com/.
