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 32,000 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 in 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 KevinKTon Feb 08, 2022 10:48am

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Post# 34408509

RJ Raises Target Price to $11

Raymond James Raises Target Price to $11

2022-02-08 10:21:37 AM ET (MT Newswires)

10:21 AM EST, 02/08/2022 (MT Newswires) -- Raymond James raised its target price on Obsidian Energy Ltd. (OBE.TO) to $11 from $9 on Tuesday.

Analyst Jeremy McCrea said the Calgary-based oil and gas company's "outstanding" reserve report on Monday demonstrated its operating performance in the Cardium during the past year, and should support upward momentum in its share price.

"The improving operating results should also lead to accelerated deleveraging through 2022 (with service costs becoming less and less of field cash flow)," McCrea said in a note to clients.

"We maintain our Outperform rating given the combination of improving operations, accelerating debt reduction, and the Clearwater potential to drive a market re-rating of the shares," the analyst said,