Obsidian Energy Ltd (TSE:OBE) has released an update.
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Obsidian Energy Ltd. has made public a commercial dispute with the Woodland Cree First Nation, stemming from blockades and demands for payments akin to royalties and exclusive service contracts. Despite meeting consultation obligations and offering a generous engagement package, including a share of a forecasted $24 million in construction work, the WCFN has not accepted the offer and has disengaged from mediated discussions. The company remains committed to respectful partnerships with Indigenous groups and fair competition for service contracts.
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