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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 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

Post by JohnJBondon Apr 22, 2022 2:34pm
167 Views
Post# 34624667

Heavy Oil Activity

Heavy Oil ActivityOBE appears to have been pretty active in March and April in thier Heavy oil area (Boereport.com)

In addition to the 4 expected OBE 100 HZ HARMONV wells, there are 8 recertifications of older 2006 wells.

Six of these recertications are wells that targeted the Gething formation (which underlies the Bluesky).    The other two were Debolt formation.

I don't know what to make of these recertifications - but I can't help but wonder if this means they have picked 8 locations to turn into Bluesky wells.   If so, it would mean they already have seismic, initial drill results, roads, leases, and possibly pipes in place.    That may mean a pretty fast heavy oil expansion.

This may give a suggestion of what they will be telling us about expanded Capex in Q2.

I would love to see them add in a lot of 400boe bluesky wells.    8 more would be a nice start.    One wonders how many more old well sites they have up there just waiting to be redrilled.

Back in 2006 they would not of had the technology to drill horizontal bluesky wells - but they do now!


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