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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 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.


TSX:OBE - Post by User

Post by JohnJBondon Nov 14, 2022 1:54pm
270 Views
Post# 35097256

US Oil Production 2022 (so far)

US Oil Production 2022 (so far)The EIA publishes US oil production per month.

These numbers come out about 2 months after the end of each month.

The total increase in oil production in the US from the end of 2021 to Aug 2022, was 341,000 BOE.

234,000 of these BOE were increases to gulf of mexico off shore production,

ie, total US on land production increased only 107,000 BOE.

I'm very interested in the observation that the US is at or near peak production.     ie, is the US at the point where it is having trouble replacing declines.   If this is happenning now, it follows that total production will trend down over time.

US off shore gulf of mexico production is long term, but takes a long time to develop.   Its the on land production that interests me.    

107,000 boe increase in the US over the first 8 months of 2022 (which appears to be where it is now in early Nov) is a small number.
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