Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

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 JohnJBondon May 08, 2022 4:24pm
99 Views
Post# 34665592

RE:May presentation

RE:May presentation

The May presentation is also missing the new land purchase location 

They even put a note to that affect on their map 

I don't know which sections they bought 

As far as I can tell from all sold by the Government that day, OBEs new land is in the Dawson area

Amother thring missing from their May presentation is the location of the recent Peace River licences 

If you look on petroninja's site you'll see 12 if I remember correctly (I was taking another look at them on Friday).    They go up and down the east and west side of their existing wells - ie step outs to the left and right 

4 are new drill permits and 8 are called reclassifications of older holes drilled to different formations.    

I think that means they are preparing for 12 new drilling locations in H2

Can 1 rig drill all 12, or does that sound like a 2 rig plan?

That suggests another 5000 boe of low decline oil may be coming in H2 from peace river  

At $2.5 - $3 million per hole that's $30-$36 million in capex

H2 capex is presently budgeted at $45 million with an indication it may be increased to $150 million 

If low $30 million gets them 5000 more boe, what does the other $120 million get them???

One more thing to get excited about 

<< Previous
Bullboard Posts
Next >>