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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Comment by JohnJBondon May 08, 2022 4:54pm

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Post# 34665613

RE:RE:RE:RE:RE:RE:RE:Obe

K yes fuel is more expensive but the roads are still full of cars

I paid $2.31 / L yesterday for premium

Truckers will be paying $1200-1500 to fill up

But we all still fill up.

Actual demand destruction looks like the road traffic during the first Covid lock downs Empty shopping center car parks and very few cars on the road That's what 10 million barrels of demand destruction looks like

Where I live there is no noticeable difference in road traffic - and fuel is more expensive here than anywhere else in North America

There is not enough demand destruction at todays prices to stop oil prices from rising, let alone keep it steady or bring it back down