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Investors need to pay close attention to Obsidian Energy (OBE) stock based on the movements in the options market lately.
Canadian oil and gas producer Obsidian Energy, the company formerly known as Penn West Petroleum Ltd, announced on Wednesday a $8.5 million settlement with U.S. financial regulators over civil accounting fraud charges filed in June. Calgary-based Obsidian Energy said it had agreed to pay the financial penalty without admitting or denying any of the factual allegations in the U.S. Securities and Exchange Commission complaint. The company issued a statement at the time saying the lawsuit was based on historic accounting practices that were discovered and reported to the SEC in July 2014.