Business Context and Reporting Period
This Form 6-K was filed by Penn West Petroleum Ltd. (noted as OBSIDIAN ENERGY LTD. in metadata) on January 12, 2011, covering the month of January 2011. The registrant is a foreign private issuer based in Calgary, Alberta, Canada, and files annual reports under Form 40-F.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document serves as a cover sheet for the submission of various legal agreements and a material change report rather than a financial results statement.
Material Changes and Filed Documents
The filing includes a Material Change Report dated January 11, 2011, and numerous exhibits related to debt financing and credit agreements. Key documents filed include:
- First and Second Amending Agreements to a Credit Agreement dated April 30, 2010.
- Fifth Supplemental Trust Indenture (effective January 1, 2011) to an Indenture dated December 17, 2002.
- Second Supplemental Trust Indenture (effective January 1, 2011) to an Indenture dated May 2, 2006.
- A Note Purchase Agreement dated December 2, 2010.
- Multiple First Amending Agreements dated December 2, 2010, modifying various Note Purchase Agreements from 2007 through 2010.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, or specific risk disclosures. The primary focus is the formal submission of the aforementioned legal instruments and the Material Change Report.
Investor Verification Checklist
- Review the attached Material Change Report (Exhibit 99.1) for details on the specific event triggering this filing.
- Analyze the terms of the Note Purchase Agreement dated December 2, 2010, and the associated amendments to understand new debt obligations.
- Examine the Supplemental Trust Indentures effective January 1, 2011, for changes to existing debt covenants or security.
- Verify the impact of the multiple amendments to prior Note Purchase Agreements on the company's overall capital structure.