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, with the transaction scheduled to close in the first half of August 2025. This development introduces Delek as a strategic shareholder and grants it the right to nominate two directors to InPlay's board, indicating a strong partnership between the entities. Doug Bartole, CEO of InPlay, expressed enthusiasm about the collaboration, highlighting Delek's track record in the energy sector, including significant roles in Ithaca Energy and development of the Mediterranean's largest natural gas field.
The 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 includes comprehensive registration and investor rights, ensuring Delek's participation in future equity offerings through pre-emptive rights, which 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 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 can be found at https://www.inplayoil.com/. This strategic move matters because it enhances InPlay's operational capabilities through Delek's proven energy sector experience, potentially accelerating development in key basins while providing financial stability through structured investor rights. The implications include strengthened corporate governance through board representation, increased access to capital for future projects, and alignment with industry trends of strategic partnerships driving consolidation and expertise sharing in the energy market.
