Obsidian Energy Management

Management criteria checks 4/4

Obsidian Energy's CEO is Steve Loukas, appointed in Dec 2019, has a tenure of 4.5 years. total yearly compensation is CA$3.30M, comprised of 15.9% salary and 84.1% bonuses, including company stock and options. directly owns 1.17% of the company’s shares, worth $6.87M. The average tenure of the management team and the board of directors is 4.5 years and 6.4 years respectively.

Key information

Steve Loukas

Chief executive officer

CA$3.3m

Total compensation

CEO salary percentage	15.9%
CEO tenure	4.5yrs
CEO ownership	1.2%
Management average tenure	4.5yrs
Board average tenure	6.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Steve Loukas's remuneration changed compared to Obsidian Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	CA$89m
Dec 31 2023	CA$3m	CA$525k	CA$108m
Sep 30 2023	n/a	n/a	CA$705m
Jun 30 2023	n/a	n/a	CA$721m
Mar 31 2023	n/a	n/a	CA$817m
Dec 31 2022	CA$4m	CA$650k	CA$810m
Sep 30 2022	n/a	n/a	CA$200m
Jun 30 2022	n/a	n/a	CA$206m
Mar 31 2022	n/a	n/a	CA$415m
Dec 31 2021	CA$2m	CA$645k	CA$414m
Sep 30 2021	n/a	n/a	CA$393m
Jun 30 2021	n/a	n/a	CA$343m
Mar 31 2021	n/a	n/a	-CA$900k
Dec 31 2020	CA$2m	CA$580k	-CA$772m
Sep 30 2020	n/a	n/a	-CA$1b
Jun 30 2020	n/a	n/a	-CA$1b
Mar 31 2020	n/a	n/a	-CA$1b
Dec 31 2019	CA$791k	CA$45k	-CA$788m
Sep 30 2019	n/a	n/a	-CA$357m
Jun 30 2019	n/a	n/a	-CA$360m
Mar 31 2019	n/a	n/a	-CA$294m
Dec 31 2018	CA$47k	n/a	-CA$305m

Compensation vs Market: Steve's total compensation ($USD2.42M) is about average for companies of similar size in the US market ($USD2.46M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.

CEO

Steve Loukas (46 yo)

4.5yrs

Tenure

CA$3,295,888

Compensation

Mr. Stephen Elias Loukas, also known as Steve, serves as Chief Executive Officer and President of Obsidian Energy Ltd. since February 22, 2023 and serves as its Director since May 11, 2018. He serves as a...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Stephen Loukas	President	4.5yrs	CA$3.30m	1.17% CA$ 6.9m
Peter Scott	Senior VP & CFO	4.5yrs	CA$1.42m	0.14% CA$ 829.3k
William Swadling	Vice President of Operations	2.4yrs	CA$1.22m	0.13% CA$ 752.6k
Mark Hawkins	VP of Legal	no data	CA$1.15m	0.081% CA$ 475.0k
Gary Sykes	Senior Vice President of Commercial & Development	4.6yrs	CA$1.42m	no data

4.5yrs

Average Tenure

Experienced Management: OBE's management team is considered experienced (4.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Stephen Loukas	President	6.1yrs	CA$3.30m	1.17% CA$ 6.9m
Edward Kernaghan	Independent Director	6.4yrs	CA$145.00k	0.27% CA$ 1.6m
Gordon Ritchie	Independent Chairman of the Board	6.5yrs	CA$193.50k	0.14% CA$ 810.0k
Michael Faust	Independent Director	6.1yrs	CA$156.63k	0.076% CA$ 443.3k
John Brydson	Independent Director	10yrs	CA$159.63k	0.58% CA$ 3.4m
Raymond Crossley	Independent Director	9.3yrs	CA$163.75k	0.0062% CA$ 36.1k
Shani Bosman	Independent Director	2.1yrs	CA$143.50k	0.013% CA$ 76.6k

6.4yrs

Average Tenure

63yo

Average Age

Experienced Board: OBE's board of directors are considered experienced (6.4 years average tenure).

Obsidian Energy Management

Management criteria checks 4/4

Key information

Recent management updates

Independent Director recently bought US$234k worth of stock

Obsidian Energy Ltd., Annual General Meeting, May 02, 2024

Insufficient new directors

Obsidian Energy Ltd. Extends Stephen E. Loukas' Employment Contract as Interim CEO to December 31, 2023

Obsidian Energy Ltd. Appoints Shani Bosman to Its Board of Directors and as Member of Operations and Reserve Committee

Obsidian Energy Ltd., Annual General Meeting, Jun 16, 2022

Recent updates

Obsidian Energy Ltd. (TSX:OBE) has entered into a purchase and sale agreement to acquire Peace River Peavine and Gift Lake Clearwater production and sections of land for CAD 76 million.

Woodland Cree First Nation Gives Notice to Obsidian Energy Ltd. Application to Expand Operations on Their Traditional Territory Has Been Rejected by Chief and Council

First quarter 2024 earnings released: EPS: CA$0.15 (vs CA$0.37 in 1Q 2023)

Obsidian Energy Ltd. to Report Q1, 2024 Results on May 02, 2024

Independent Director recently bought US$234k worth of stock

New minor risk - Profit margin trend

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Obsidian Energy Ltd., Annual General Meeting, May 02, 2024

Insufficient new directors

Obsidian Energy Ltd. to Report Q4, 2023 Results on Feb 22, 2024

Obsidian Energy Ltd. Announces 2023 Operations Update

Obsidian Energy Ltd. Revises Production Guidance for the Year 2023

Obsidian Energy Ltd. to Report Q3, 2023 Results on Nov 09, 2023

Obsidian Energy Ltd. Revises Production Guidance for the Year 2023

Obsidian Energy Ltd. Provides Production Guidance for the Year 2023

Obsidian Energy Ltd. to Report Q2, 2023 Results on Aug 02, 2023

Obsidian Energy Ltd. Announces Results of Viking Drilling and Update on Alberta Wildfires

Obsidian Energy Ltd. Provides Update on Impact of Alberta Wildfires

Obsidian Energy Ltd. Provides an Update on Operations and Employees Impacted by Recent Alberta Wildfires

Obsidian Energy Ltd. Provides Production Guidance for the Year 2023

Obsidian Energy Ltd. Provides Production Guidance for the Year 2023

Obsidian Energy Ltd. to Report Q4, 2022 Results on Feb 23, 2023

Obsidian Energy Ltd. Extends Stephen E. Loukas' Employment Contract as Interim CEO to December 31, 2023

Obsidian Energy Ltd. Updates Production Guidance for the Year 2022

Obsidian Energy Ltd. to Report Q3, 2022 Results on Nov 08, 2022

Obsidian Energy Ltd. announced that it has received CAD 125 million in funding

Obsidian Energy Ltd. announced that it expects to receive CAD 125 million in funding

Obsidian Energy Ltd. to Report Q2, 2022 Results on Jul 28, 2022

Obsidian Energy Ltd. Revised Production Guidance for the Full Year of 2022

Obsidian Energy Ltd. Appoints Shani Bosman to Its Board of Directors and as Member of Operations and Reserve Committee

Obsidian Energy Ltd. to Report Q1, 2022 Results on May 04, 2022

Obsidian Energy Ltd. Provides Production Guidance for the Year 2022

Obsidian Energy Ltd., Annual General Meeting, Jun 16, 2022

Obsidian Energy Ltd. Updates Production Guidance for the First Half of 2022

Obsidian Energy Ltd. to Report Q4, 2021 Results on Feb 24, 2022

Obsidian Energy Deleted from Other OTC

Obsidian Energy Ltd. Provides Production Guidance for the Full Year 2022

Obsidian Energy Ltd. Provides Preliminary Production Guidance for the Fiscal Year 2021

Obsidian Energy Ltd. (TSX:OBE) completed the acquisition of remaining 45% of stake in Penn West Energy Trust, Bitumen Assets in the Peace River Area of Northern Alberta from Winter Spark Resources, Inc.

Obsidian Energy Ltd. Provides Production Guidance for the Second Quarter of Fiscal Year 2021

Obsidian Energy Ltd. Announces Early Start to Second Half Development Program

Obsidian Energy Ltd. Provides Production Guidance for the Year 2022

Obsidian Energy Ltd. Announces First Half 2021 Drilling Program

Obsidian Energy Ltd. (TSX:OBE) entered into a non-binding business proposal to acquire Bonterra Energy Corp. (TSX:BNE) ) for CAD 38.3 million.

Obsidian Energy Ltd. to Report Q2, 2020 Results on Jul 30, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age