Oil and gas exploration & production in canada
InPlay ended 2025 as a larger and deeper energy company in terms of reserves and drilling inventory, but also as a company whose core risk has shifted from whether growth exists to whether the balance sheet can carry heavier debt and abandonment obligations without losing flexib…
The Israeli bond did reduce InPlay’s immediate liquidity pressure, but it did not erase risk. It moved the pressure from a short term loan and floating bank debt into an amended RBL structure, explicit covenant discipline and a new CAD/NIS hedge layer.
InPlay's abandonment liability is primarily the result of the Pembina acquisition and a sharp discount-rate remeasurement, not of slow operating drift. It is not an immediate cash wall, but it does redefine how much of the company's asset base already comes attached to a large a…
