# EDGAR Filing Document

**Accession Number:** 0001334388
**File Stem:** 0000950170-25-080819
**Filing Date:** 2025-6
**Character Count:** 72393
**Document Hash:** 01b2c94bdc0b9274e1555f578c7c45b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-080819.hdr.sgml**: 20250603

**ACCESSION NUMBER**: 0000950170-25-080819

**CONFORMED SUBMISSION TYPE**: SD

**PUBLIC DOCUMENT COUNT**: 11

**FILED AS OF DATE**: 20250603

**DATE AS OF CHANGE**: 20250603

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OBSIDIAN ENERGY LTD.
- **CENTRAL INDEX KEY:** 0001334388
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SD
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32895
- **FILM NUMBER:** 251018940

**BUSINESS ADDRESS:**
- **STREET 1:** 207 - 9TH AVENUE S.W.
- **STREET 2:** SUITE 200
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2P 1K3
- **BUSINESS PHONE:** (403) 777-2500

**MAIL ADDRESS:**
- **STREET 1:** 207 - 9TH AVENUE S.W.
- **STREET 2:** SUITE 200
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2P 1K3

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENN WEST PETROLEUM LTD.
- **DATE OF NAME CHANGE:** 20110125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENN WEST ENERGY TRUST
- **DATE OF NAME CHANGE:** 20050727

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM SD**

**Specialized Disclosure Report**

**OBSIDIAN ENERGY LTD.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Alberta, Canada** | **001-32895** | **Not applicable** |
| (State or other jurisdiction of<br>incorporation or organization)  | (Commission File Number) | (IRS Employer<br>Identification No.)  |

---

---

| | |
|:---|:---|
| **Suite 200, 207 – 9th Avenue SW<br>Calgary, Alberta, Canada** | **T2P 1K3** |
| (Address of principal executive offices) | (Zip Code) |

---

**Peter Scott**

**Senior Vice President and Chief Financial Officer**

**Obsidian Energy Ltd.**

**(403) 777-2500**

(Name and telephone number, including area code, of person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ___________.

 Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024.

------

**SECTION 1 – Conflict Minerals Disclosure**

**Item 1.01 - Conflict Minerals Disclosure and Report**

Not applicable

**Item 1.02 - Exhibit**

Not applicable

**SECTION 2 – RESOURCE EXTRACTION ISSUER DISCLOSURE**

**Item 2.01 Resource Extraction Issuer Disclosure and Report**

Obsidian Energy Ltd. ("Obsidian Energy") is subject to Canada's Extractive Sector Transparency Measures Act ("ESTMA"). Obsidian Energy is relying on the alternative reporting provision of Item 2.01 and providing its ESTMA report for the year ended December 31, 2024 to satisfy the requirements of Item 2.01. Obsidian Energy's ESTMA report is available on Obsidian Energy's website at https://obsidian-media-library.s3.ca-central-1.amazonaws.com/obsidian-energy/corporate-website/current/wp-content/uploads/2025/05/29085054/ESTMA_Reporting_Template_March_2025_1-OBE-2024-Upload.pdf or on the Government of Canada's website at https://natural-resources.canada.ca/our-natural-resources/minerals-mining/services-for-the-mining-industry/extractive-sector-transparency-measures-act/links-estma-reports/18198. The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

**SECTION 3 – EXHIBITS**

**Item 3.01. Exhibits**

The following exhibit is filed as part of this report.

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 2.01 | Extractive Sector Transparency Measures Act – Annual Report for the year ended December 31, 2024 |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned.

---

| | | |
|:---|:---|:---|
| **OBSIDIAN ENERGY LTD.** | **OBSIDIAN ENERGY LTD.** | **OBSIDIAN ENERGY LTD.** |
| By: | /s/ Peter Scott | June 3, 2025 |
|  | Peter Scott | (Date) |
|  | Senior Vice President and Chief Financial Officer |  |

---

------

## Exhibit 2.01

```

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 <rxp:Fees id="F_da1049d3-e106-40c4-a6bb-e4942acef9d0" contextRef="C_4a793c9e-b0a6-4d33-a4ae-614a631b39d2" unitRef="U_CAD" decimals="0">170000</rxp:Fees>
 <rxp:Fees id="F_00d71c88-de38-4423-9947-57f50ce03526" contextRef="C_3dc2e8c1-71c6-442f-a175-3c852e448493" unitRef="U_CAD" decimals="0">50000</rxp:Fees>
 <rxp:Royalties id="F_cc04174b-0132-45c9-92d1-e50213688d3d" contextRef="C_ae13415a-303d-44f2-b6bb-8a020ee65c91" unitRef="U_CAD" decimals="0">23230000</rxp:Royalties>
 <rxp:Royalties id="F_a7875d8b-225c-4113-95b4-c23178026bf2" contextRef="C_c2835fca-175c-45c4-8b98-1154e7a81aca" unitRef="U_CAD" decimals="0">94520000</rxp:Royalties>
 <rxp:TotalPayments id="F_551f60b4-6161-451c-9e21-86ffd32fba10" contextRef="C_c2835fca-175c-45c4-8b98-1154e7a81aca" unitRef="U_CAD" decimals="0">118130000</rxp:TotalPayments>
 <rxp:Taxes id="F_97f72f2a-75ac-4bf5-95dc-f97ce9759ee9" contextRef="C_b82f89c0-5f7c-41d5-86dd-00ce92ca97ea" unitRef="U_CAD" decimals="0">1040000</rxp:Taxes>
 <rxp:TotalPayments id="F_70fb7401-e0e5-435a-93f4-ec93e73affa0" contextRef="C_3dc2e8c1-71c6-442f-a175-3c852e448493" unitRef="U_CAD" decimals="0">750000</rxp:TotalPayments>
 <rxp:Taxes id="F_7581dc90-48dd-4367-8c41-e9e20f9d1dab" contextRef="C_db1080e0-caab-4f6b-8b4f-4a04a6cafe3c" unitRef="U_CAD" decimals="0">70000</rxp:Taxes>
 <rxp:Fees id="F_b27d4600-ec34-413e-a696-0c850d544bf0" contextRef="C_b1fcaf42-a453-4074-9ff9-8440387b78fe" unitRef="U_CAD" decimals="0">1400000</rxp:Fees>
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 <rxp:Royalties id="F_88081b98-9063-4018-aa39-b82d70c15e7c" contextRef="C_b82f89c0-5f7c-41d5-86dd-00ce92ca97ea" unitRef="U_CAD" decimals="0">93910000</rxp:Royalties>
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 <rxp:TotalPayments id="F_eb8fb9cf-b629-4ee1-8448-b4436292e057" contextRef="C_35a10337-5f4d-4341-a0fe-11a590f82c75" unitRef="U_CAD" decimals="0">140000</rxp:TotalPayments>
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 <rxp:Royalties id="F_fde0c5e9-7468-4620-b658-31aa208e65f7" contextRef="C_281367d0-effe-474d-8c06-28988c4b3c05" unitRef="U_CAD" decimals="0">9410000</rxp:Royalties>
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 <rxp:TotalPayments id="F_97291534-7884-4ec6-bfc6-1584b22c34fa" contextRef="C_9d4b44d0-bf9b-423e-9a1d-843b29c59177" unitRef="U_CAD" decimals="0">120000</rxp:TotalPayments>
 <dei:AmendmentFlag id="F_c79ee78e-8744-43b7-a476-e3be863ecc58" contextRef="C_c2835fca-175c-45c4-8b98-1154e7a81aca">false</dei:AmendmentFlag>
 <rxp:Taxes id="F_d9085d4d-8e25-4b1c-a01e-95e7053f0de9" contextRef="C_281367d0-effe-474d-8c06-28988c4b3c05" unitRef="U_CAD" decimals="0">740000</rxp:Taxes>
 <rxp:TotalPayments id="F_0d538fcc-ee95-4561-bbdf-d4c98715193d" contextRef="C_47cfbaad-2c0f-4b43-8d22-e5276faccce8" unitRef="U_CAD" decimals="0">1940000</rxp:TotalPayments>
 <rxp:TotalPayments id="F_aecb9307-e29f-40e7-9bb9-8ef13489f5a3" contextRef="C_4a793c9e-b0a6-4d33-a4ae-614a631b39d2" unitRef="U_CAD" decimals="0">170000</rxp:TotalPayments>
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 <rxp:Fees id="F_6e834897-da2c-429e-bf54-fcc46d30875f" contextRef="C_c551d512-654d-4808-8d69-7748ccfb34d1" unitRef="U_CAD" decimals="0">130000</rxp:Fees>
 <rxp:Taxes id="F_2d6e39ad-431c-49fb-a60f-9de2b6a74434" contextRef="C_12ba41af-ca0a-4f30-b53d-19b4407b40e5" unitRef="U_CAD" decimals="0">500000</rxp:Taxes>
 <rxp:TotalPayments id="F_e45cb075-6a9d-4491-a623-2a3adaed6f8a" contextRef="C_769e361c-6942-47d3-bd0b-af82434ec0b1" unitRef="U_CAD" decimals="0">200000</rxp:TotalPayments>
 <rxp:Taxes id="F_e449929e-8017-486b-8827-390e99dbd402" contextRef="C_3dc2e8c1-71c6-442f-a175-3c852e448493" unitRef="U_CAD" decimals="0">700000</rxp:Taxes>
 <dei:EntityCentralIndexKey id="F_790fbc00-9a53-4bd3-8147-49e0b21f8cd6" contextRef="C_c2835fca-175c-45c4-8b98-1154e7a81aca">0001334388</dei:EntityCentralIndexKey>
 <rxp:TotalPayments id="F_1991b6cb-de07-4562-961f-33cba3dc2bd3" contextRef="C_12ba41af-ca0a-4f30-b53d-19b4407b40e5" unitRef="U_CAD" decimals="0">500000</rxp:TotalPayments>
 <rxp:Fees id="F_9475fe59-251d-4b46-827b-c02d93a9cd6f" contextRef="C_42f7583e-66ea-48b4-86e6-bf7d23f7e071" unitRef="U_CAD" decimals="0">120000</rxp:Fees>
 <rxp:TotalPayments id="F_036577d8-d613-4eee-8605-ace29a4b2a80" contextRef="C_cd86d2a5-1ec3-4836-aae5-0fe71b3d9334" unitRef="U_CAD" decimals="0">76810000</rxp:TotalPayments>
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 <rxp:Fees id="F_a84860a7-7f7a-40fd-8119-fbea1c837d6b" contextRef="C_cd86d2a5-1ec3-4836-aae5-0fe71b3d9334" unitRef="U_CAD" decimals="0">5740000</rxp:Fees>
 <rxp:TotalPayments id="F_c54bff46-d844-4533-a266-4a532c089233" contextRef="C_281367d0-effe-474d-8c06-28988c4b3c05" unitRef="U_CAD" decimals="0">10410000</rxp:TotalPayments>
 <rxp:TotalPayments id="F_de0bcb0d-1610-481f-83ce-2e057e16c8a3" contextRef="C_1e8066a3-5cd0-4ecb-94dc-a788675f8dac" unitRef="U_CAD" decimals="0">4790000</rxp:TotalPayments>
 <dei:EntityRegistrantName id="F_0b6ca5bf-3014-4c30-bf23-54fe7598764a" contextRef="C_c2835fca-175c-45c4-8b98-1154e7a81aca">OBSIDIAN ENERGY LTD.</dei:EntityRegistrantName>
 <rxp:Fees id="F_ccb39159-917d-42d2-b1ef-17f9a9eb9ac5" contextRef="C_b82f89c0-5f7c-41d5-86dd-00ce92ca97ea" unitRef="U_CAD" decimals="0">8570000</rxp:Fees>
</xbrl>
</XBRL>

```

## Exhibit 2.01

```

<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- DFIN New ActiveDisclosure (SM) XBRL Schema Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date :2025-06-03T15:05:20.5291+00:00 -->
<!-- Copyright (c) 2025 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<xsd:schema targetNamespace="http://www.obsidianenergy.com/20241231" attributeFormDefault="unqualified" elementFormDefault="qualified" xmlns:country="http://xbrl.sec.gov/country/2024" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:obe="http://www.obsidianenergy.com/20241231" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2024" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:rxp="http://xbrl.sec.gov/rxp/2024" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:enum="http://xbrl.org/2014/extensible-enumerations" xmlns:xlink="http://www.w3.org/1999/xlink">
  <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/instance"/>
  <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/linkbase"/>
  <xsd:import schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" namespace="http://xbrl.org/2005/xbrldt"/>
  <xsd:import schemaLocation="https://xbrl.sec.gov/country/2024/country-2024.xsd" namespace="http://xbrl.sec.gov/country/2024"/>
  <xsd:import schemaLocation="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd" namespace="http://xbrl.sec.gov/rxp/2024"/>
  <xsd:import schemaLocation="http://www.xbrl.org/2014/extensible-enumerations.xsd" namespace="http://xbrl.org/2014/extensible-enumerations"/>
  <xsd:import schemaLocation="https://xbrl.sec.gov/dei/2024/dei-2024.xsd" namespace="http://xbrl.sec.gov/dei/2024"/>
  <xsd:import schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" namespace="http://www.xbrl.org/dtr/type/2024-01-31"/>
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbase id="lnk">
        <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" xlink:type="simple"/>
        <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" xlink:type="simple"/>
        <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" xlink:type="simple"/>
        <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" xlink:type="simple"/>
        <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" xlink:type="simple"/>
        <link:arcroleRef arcroleURI="http://www.esma.europa.eu/xbrl/esef/arcrole/wider-narrower" xlink:href="http://www.xbrl.org/lrr/arcrole/esma-arcrole-2018-11-21.xsd#wider-narrower" xlink:type="simple"/>
        <link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/GovernmentsOnly" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#GovernmentsOnly" xlink:type="simple"/>
        <link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/ProjectsOnly" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#ProjectsOnly" xlink:type="simple"/>
        <link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/ByGovernment" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#ByGovernment" xlink:type="simple"/>
        <link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/ByProject" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#ByProject" xlink:type="simple"/>
        <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:title="labelLink" xlink:type="extended">
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_SUCKERCREEKFIRSTNATIONMember" xlink:label="obe_SUCKERCREEKFIRSTNATIONMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_VikingProjectMember" xlink:label="obe_VikingProjectMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_METISSETTLEMENTSGENERALCOUNCILMember" xlink:label="obe_METISSETTLEMENTSGENERALCOUNCILMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_GIFTLAKEMETISSETTLEMENTMember" xlink:label="obe_GIFTLAKEMETISSETTLEMENTMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_PeaceRiverProjectMember" xlink:label="obe_PeaceRiverProjectMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_CardiumProjectMember" xlink:label="obe_CardiumProjectMember"/>
          <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_CA" xlink:label="country_CA"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_ParklandCountyMember" xlink:label="obe_ParklandCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_WOODLANDCREEFIRSTNATIONMember" xlink:label="obe_WOODLANDCREEFIRSTNATIONMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_OcHIESEFIRSTNATIONMember" xlink:label="obe_OcHIESEFIRSTNATIONMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_PEAVINEMETISSETTLEMENTMember" xlink:label="obe_PEAVINEMETISSETTLEMENTMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_ClearwaterCountyMember" xlink:label="obe_ClearwaterCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_NorthernSunriseCountyMember" xlink:label="obe_NorthernSunriseCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_ProvinceOfAlbertaMember" xlink:label="obe_ProvinceOfAlbertaMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_YellowheadCountyMember" xlink:label="obe_YellowheadCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_LUBICONLAKEBANDMember" xlink:label="obe_LUBICONLAKEBANDMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_BrazeauCountyMember" xlink:label="obe_BrazeauCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_SpecialAreasBoardMember" xlink:label="obe_SpecialAreasBoardMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_PaulFirstNationIndustryRelationsMember" xlink:label="obe_PaulFirstNationIndustryRelationsMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_CountyOfWetaskiwinNo10Member" xlink:label="obe_CountyOfWetaskiwinNo10Member"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_LegacyProjectMember" xlink:label="obe_LegacyProjectMember"/>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_SUCKERCREEKFIRSTNATIONMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SUCKER CREEK FIRST NATION [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_SUCKERCREEKFIRSTNATIONMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Sucker Creek First Nation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_SUCKERCREEKFIRSTNATIONMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sucker Creek First Nation</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_VikingProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Viking Project [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_VikingProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Viking Project.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_VikingProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Viking</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_METISSETTLEMENTSGENERALCOUNCILMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">METIS SETTLEMENTS GENERAL COUNCIL [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_METISSETTLEMENTSGENERALCOUNCILMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Metis Settlements General Council</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_METISSETTLEMENTSGENERALCOUNCILMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Metis Settlements General Council</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_GIFTLAKEMETISSETTLEMENTMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">GIFT LAKE METIS SETTLEMENT [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_GIFTLAKEMETISSETTLEMENTMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">GIFT LAKE METIS SETTLEMENT</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_GIFTLAKEMETISSETTLEMENTMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gift Lake Metis Settlement</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_PeaceRiverProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Peace River Project [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_PeaceRiverProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Peace River Project.</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_PeaceRiverProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Peace River</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_CardiumProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cardium Project [Member]</link:label>
          <link:label xml:lang="en-US" xlink:type="resource" xlink:label="obe_CardiumProjectMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Cardium Project.</link:label>
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          <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="rxp_AllProjectsMember" xlink:to="obe_PeaceRiverProjectMember" order="2" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
          <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="rxp_AllProjectsMember" xlink:to="obe_VikingProjectMember" order="3" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
        </link:presentationLink>
        <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/GovernmentsOnly">
          <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#rxp_AllGovernmentsMember" xlink:label="rxp_AllGovernmentsMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_LUBICONLAKEBANDMember" xlink:label="obe_LUBICONLAKEBANDMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_BrazeauCountyMember" xlink:label="obe_BrazeauCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_ClearwaterCountyMember" xlink:label="obe_ClearwaterCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_CountyOfWetaskiwinNo10Member" xlink:label="obe_CountyOfWetaskiwinNo10Member"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_GIFTLAKEMETISSETTLEMENTMember" xlink:label="obe_GIFTLAKEMETISSETTLEMENTMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_METISSETTLEMENTSGENERALCOUNCILMember" xlink:label="obe_METISSETTLEMENTSGENERALCOUNCILMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_NorthernSunriseCountyMember" xlink:label="obe_NorthernSunriseCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_OcHIESEFIRSTNATIONMember" xlink:label="obe_OcHIESEFIRSTNATIONMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_ParklandCountyMember" xlink:label="obe_ParklandCountyMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_PaulFirstNationIndustryRelationsMember" xlink:label="obe_PaulFirstNationIndustryRelationsMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_PEAVINEMETISSETTLEMENTMember" xlink:label="obe_PEAVINEMETISSETTLEMENTMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_ProvinceOfAlbertaMember" xlink:label="obe_ProvinceOfAlbertaMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_SpecialAreasBoardMember" xlink:label="obe_SpecialAreasBoardMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_SUCKERCREEKFIRSTNATIONMember" xlink:label="obe_SUCKERCREEKFIRSTNATIONMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_WOODLANDCREEFIRSTNATIONMember" xlink:label="obe_WOODLANDCREEFIRSTNATIONMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_YellowheadCountyMember" xlink:label="obe_YellowheadCountyMember"/>
          <link:definitionArc xlink:type="arc" order="0" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_LUBICONLAKEBANDMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="1" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_BrazeauCountyMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="2" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_ClearwaterCountyMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="3" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_CountyOfWetaskiwinNo10Member" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="4" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_GIFTLAKEMETISSETTLEMENTMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="5" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_METISSETTLEMENTSGENERALCOUNCILMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="6" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_NorthernSunriseCountyMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="7" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_OcHIESEFIRSTNATIONMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="8" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_ParklandCountyMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="9" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_PaulFirstNationIndustryRelationsMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="10" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_PEAVINEMETISSETTLEMENTMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="11" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_ProvinceOfAlbertaMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="12" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_SpecialAreasBoardMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="13" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_SUCKERCREEKFIRSTNATIONMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="14" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_WOODLANDCREEFIRSTNATIONMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="15" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllGovernmentsMember" xlink:to="obe_YellowheadCountyMember" priority="2" use="optional"/>
        </link:definitionLink>
        <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/ProjectsOnly">
          <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#rxp_AllProjectsMember" xlink:label="rxp_AllProjectsMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_CardiumProjectMember" xlink:label="obe_CardiumProjectMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_LegacyProjectMember" xlink:label="obe_LegacyProjectMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_PeaceRiverProjectMember" xlink:label="obe_PeaceRiverProjectMember"/>
          <link:loc xlink:type="locator" xlink:href="obe_ex2_01-20241231.xsd#obe_VikingProjectMember" xlink:label="obe_VikingProjectMember"/>
          <link:definitionArc xlink:type="arc" order="0" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllProjectsMember" xlink:to="obe_CardiumProjectMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="1" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllProjectsMember" xlink:to="obe_LegacyProjectMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="2" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllProjectsMember" xlink:to="obe_PeaceRiverProjectMember" priority="2" use="optional"/>
          <link:definitionArc xlink:type="arc" order="3" xbrldt:closed="false" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="rxp_AllProjectsMember" xlink:to="obe_VikingProjectMember" priority="2" use="optional"/>
        </link:definitionLink>
      </link:linkbase>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:element id="obe_NorthernSunriseCountyMember" name="NorthernSunriseCountyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_METISSETTLEMENTSGENERALCOUNCILMember" name="METISSETTLEMENTSGENERALCOUNCILMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_OcHIESEFIRSTNATIONMember" name="OcHIESEFIRSTNATIONMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_PEAVINEMETISSETTLEMENTMember" name="PEAVINEMETISSETTLEMENTMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_GIFTLAKEMETISSETTLEMENTMember" name="GIFTLAKEMETISSETTLEMENTMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_WOODLANDCREEFIRSTNATIONMember" name="WOODLANDCREEFIRSTNATIONMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_SpecialAreasBoardMember" name="SpecialAreasBoardMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_ClearwaterCountyMember" name="ClearwaterCountyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_LUBICONLAKEBANDMember" name="LUBICONLAKEBANDMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_ParklandCountyMember" name="ParklandCountyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_BrazeauCountyMember" name="BrazeauCountyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_SUCKERCREEKFIRSTNATIONMember" name="SUCKERCREEKFIRSTNATIONMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_VikingProjectMember" name="VikingProjectMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_CardiumProjectMember" name="CardiumProjectMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_ProvinceOfAlbertaMember" name="ProvinceOfAlbertaMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_PeaceRiverProjectMember" name="PeaceRiverProjectMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_CountyOfWetaskiwinNo10Member" name="CountyOfWetaskiwinNo10Member" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_PaulFirstNationIndustryRelationsMember" name="PaulFirstNationIndustryRelationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_LegacyProjectMember" name="LegacyProjectMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
  <xsd:element id="obe_YellowheadCountyMember" name="YellowheadCountyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true"/>
</xsd:schema>
</XBRL>

```