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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.


TSX:OBE - Post by User

Comment by kavern23on Nov 21, 2021 11:03pm
118 Views
Post# 34151636

RE:RE:October Cardium Production

RE:RE:October Cardium ProductionNo problem. I am very interested in the cardium so might as well share if I am doing it anyways.

Assuming we aquire Prop...I think Obe can exit December 31, 2021 at 28,500 BOE, with room to revise up depending on Nov. Things look quite good. The well delays just push production later into the year. Obe's exit will be quite strong as 4 wells are supposed to be on from central/east crimson in mid December. That should be 4 * 300 BOE = 1200 BOE addition....chance to do better then that. 

I think OBE's production likely peaked for the quarter about right now Nov 20th or maybe as late as Nov 28th.  Then OBE should peak in late Dec again.

They look to be cycling in the wells so that that first 2 monts of each quarter have highest production. 

Decline rates still are not going to be much of an issue as OBE had only 2 wells in the cardium that are really screaming...think it is called 3-3 pad.

OBE is buildling up a nice collection of 70-170 barrels a day oil wells..which is good as it is more stable month tot month.
Mid January OBE is supposed to tie ing a 2 well pad in Crimson that should offset the 3 3 which will have declined by Mid Jan.  

Management looks to be trying to keep constant Q growth with tie in pace.
I can't predict that accurate of a exit for Q1 2022 yet but I think OBE can hit 30000 BOE at some point in Q1 2022. I see OBE spudded another PROP well today at Walrus, lots to tie in for Q1.

If drilling remains this way going forward with the rigs...I would guess around June-Aug is when it becomes harder for OBE to grow...ie the decline treadmill becomes hard each month to grow....but so far so good.

Things are shaping up nicely. A strong WTI week would be nice.


Helloworld wrote:
Thank you for the insight Kavern. Question for you on OBE. With the knowledge on Oct production and company info on production online anticipated for Q4 and Q1 do you have an estimate for year end exit production and Q1 exit production? Thanks.


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