InPlay Oil Corp. has strengthened its strategic positioning through the addition of 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, represents a significant development in InPlay's growth strategy by introducing Delek as a strategic partner with substantial energy sector experience. The partnership extends beyond mere share ownership, as Delek gains the right to nominate two directors to InPlay's board, indicating a deep collaborative relationship between the entities.
Doug Bartole, InPlay's CEO, highlighted the strategic importance of this partnership, noting Delek's established track record in the energy sector, including significant roles in Ithaca Energy and the development of the Mediterranean's largest natural gas field. This expertise is expected to bring substantial value to InPlay's operations in the Western Canadian Sedimentary Basin, where the company maintains its focus on sustainable oil and gas production. The collaboration positions InPlay to leverage Delek's technical knowledge and industry experience to enhance its operational efficiency and growth potential.
The comprehensive agreement between InPlay and Delek includes detailed registration and investor rights provisions, with Delek securing pre-emptive rights to participate in future equity offerings. This aspect of the arrangement underscores the long-term commitment Delek has made to supporting InPlay's growth trajectory and ensures the strategic shareholder maintains its proportional ownership stake as the company evolves. Additional information about this strategic development is available at https://ibn.fm/hGL6S.
InPlay Oil Corp. has built its reputation on a disciplined approach to capital investment and consistent returns to shareholders, operating a diverse portfolio of oil and natural gas assets designed for long-term value creation. The company maintains detailed information about its operations and strategic initiatives at https://www.inplayoil.com/. This new partnership with Delek represents a significant milestone in InPlay's ongoing development, combining the company's established operational strengths with Delek's global energy sector expertise to create enhanced value for all stakeholders involved in the organization.
