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 > Today's News Release

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Post by JohnJBondon Feb 28, 2024 12:17pm

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Post# 35904096

Today's News Release

This morning OBE announced its current production is

"Development activity has increased current production to over 36,500 boe/d (based on field estimates)" Feb 28/24

OBE is on a 32,250 to 50,000 boe, 3 year journey (growing 17,750 boe).

Today they announced they are 4,250 boe along the way. That is 24% of the way there in the first few months. 1/4 of the way, in just a few months.

Its pretty hard to say the train hasn't left the station, when its already 1/4 of the way to its destination!

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