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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 geezer21on Jun 08, 2022 10:17pm
122 Views
Post# 34742353

Freeport LNG Terminal To Shut for Three Weeks

Freeport LNG Terminal To Shut for Three Weekshttps://www.argusmedia.com/en/news/2339518-freeport-lng-to-shutter-for-at-least-3-weeks


Published date: 08 June 2022

The Freeport LNG export terminal in Texas will be shuttered for at least three weeks following an explosion there earlier today that roiled natural gas markets.

Even a temporary loss of exports from the terminal just south of Houston could leave about 2 Bcf/d (57mn m³/d) of gas available to meet gas demand for power generation or for injection into gas storage.

The US exported about 11.6 Bcf/d of LNG in May, up by 15pc from a year earlier. That sharp increase in exports, resulting from robust demand in international markets, helped drive Nymex prompt-month prices on 6 June to a 13-year settlement high of $9.322/mmBtu.

The prompt-month contract tumbled today by 6.4pc from, dropping below $9/mmBtu, after news of the incident. Gas flows on Gulf South, a key conduit for supplies to the terminal, fell today to zero.

The disruption at the 15mn t/yr Freeport terminal could help balance the US gas market and put additional downward pressure on prices. Injections into gas storage so far this year have lagged average levels on higher exports, sluggish production growth and strong demand for gas in the US power sector.

Freeport LNG did not disclose if there was damage from the incident or the cause. No one was injured, and the incident is under investigation, Freeport said.

By Jason Womackf
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