March 7 (Reuters) - Obsidian Energy Ltd OBE.TO :
* OBSIDIAN ENERGY ANNOUNCES YEAR-END 2018 FINANCIAL AND OPERATIONAL RESULTS; DIVESTS NON-CORE ASSET; PROPOSES 7:1 COMMON SHARE CONSOLIDATION; AND ANNOUNCES DAVID FRENCH TO STEP DOWN AS PRESIDENT AND CEO
* OBSIDIAN ENERGY LTD - DAVID FRENCH TO STEP DOWN AS PRESIDENT AND CEO
* OBSIDIAN ENERGY LTD - DIVESTS NON-CORE ASSET
* OBSIDIAN ENERGY LTD - MICHAEL J. FAUST HAS BEEN NAMED INTERIM PRESIDENT AND CEO, EFFECTIVE MARCH 18, 2019
* OBSIDIAN ENERGY LTD - PROPOSES 7:1 COMMON SHARE CONSOLIDATION
* OBSIDIAN ENERGY LTD - FRENCH WILL STEP DOWN FROM COMPANY ON MARCH 29, 2019
* OBSIDIAN ENERGY LTD - WILL CONTINUE TO FOCUS ON ADDITIONAL COST SAVING INITIATIVES IN 2019.
* OBSIDIAN ENERGY - SHUT-IN PORTION OF LEGACY PROPERTIES WHICH WILL RESULT IN REDUCTION IN LEGACY OPERATING COSTS BY ADDITIONAL $4 MILLION IN 2019
* OBSIDIAN ENERGY LTD - GIVEN VOLATILITY OF ALBERTA COMMODITY PRICES, HAS MAINTAINED OPERATIONAL FLEXIBILITY TO ADJUST H2 2019 CAPITAL PROGRAM
* OBSIDIAN ENERGY LTD - REDUCED OVERALL DECOMMISSIONING LIABILITY BY ABOUT $24 MILLION ON A DISCOUNTED BASIS VERSUS Q3 OF 2018
* OBSIDIAN ENERGY LTD - WILL FINE TUNE CO'S CAPITAL PROGRAM FOR SECOND HALF OF YEAR.
* OBSIDIAN ENERGY LTD - TOTAL 2019 GUIDANCE REMAINS UNCHANGED