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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

Comment by JohnJBondon Jul 06, 2022 11:23am
139 Views
Post# 34805038

RE:RE:RE:RE:RE:WTI price

RE:RE:RE:RE:RE:WTI priceThat may be your view.

However the data shows that OPEC's inability to pump at its own quota's was not shared equally amongst all OPEC countries.

The poor OPEC members where those who couldn't keep up.   

If OPEC was following the conspiracy you describe to under deliver, one would expect the rich OPEC countries to carry the cost, not the poor one.

The data shows it's the poor OPEC Countries who have fallen the furthest behind their OPEC quota.    That doesn't support a conspiracy.     On the contrary, it supports an inability to pump any more than they are pumping.

The high frequency data shows that global oil consumption is presently about 1 million barrels greater than global supply.

Here is a fact for you to ponder - oil consumption in developed Countries is not where you need to look to determine consumption.    If US gasoline consumption is indeed down 1.8% as you suggest - its not meaningful because OECD oil demand peaked back in 2005.

OECD countries, oil demand peaked in 2005 at around 50 million barrels per day. What has been driving the growth in global demand is the developing world, primarily Asia (mainly China and India – the second- and third-largest oil consumers in the world after the United States) and the Middle East (led by Saudi Arabia, which is also the sixth-largest consumer in the world). In fact, between 2009 and 2019, almost all the growth in global oil demand was driven by the developing world, with Asia expected to continue to be the growth center in the coming years. Non-OECD countries account for ~54% of global oil consumption.


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