Obsidian Energy Ltd T.OBE

Alternate Symbol(s): OBE

Obsidian Energy Ltd. is a Canada-based exploration and production company. The Company operates in one segment, to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. It has a portfolio of assets producing around 35,700 barrels of oil equivalent (boe) per day. Its operating areas include Cardium, Peace River and Viking areas of Alberta. Its Cardium asset is a fully delineated and de-risked asset. It is focused on manufacturing repeatable low-decline and high-netback light-oil wells across its Cardium land base. The Viking is a light oil, horizontal development play located in central Alberta. Its operations are focused on the Esther area. Peace River is a stable, cold-flow, base production asset. It operates on a contiguous and an acreage within the heart of the Peace River Oilsands region.

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Obsidian Energy Ltd

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Post by makedonkaon Jul 22, 2017 6:30am

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Post# 26497597

Opec oil ministers set for crucial Russia meeting

Oil ministers of Organization of the Petroleum Exporting Countries (Opec) will be meeting their counterparts from the non-Opec countries in Saint Petersburg in Russia on tomorrow to assess conformity with a recent output cut resolution, said the Emirati news agency Wam, citing Kuwait's oil minister.

They will look into a report of a key panel of the joint Opec-non-Opec ministerial monitoring committee (JMMC), on the compliance of Opec and non-Opec members with output cut levels for June 2017, stated Essam Al Marzouq.

Opec and non-Opec members had signed a declaration of co-operation in Vienna last December.

The committee will also review during the meeting an Opec report on the situation of the global oil market in June, in addition to more relevant suggestions by member states, revealed Al Marzouq, who is also the Minister of Electricity and Water, said the Wam report.

At the end of the meeting, the JTC will send a report to member states on the outcomes of Saint Petersburg meeting, mainly proposals and recommendations, the Kuwaiti minister noted.

During a meeting in Kuwait in March, the JMMC had recommended the extension of an oil output cut for another six months to keep the global oil market stable.

https://www.tradearabia.com/news/OGN_327874.html

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