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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 Dec 06, 2022 12:22pm
311 Views
Post# 35153679

Strange US Sept Oil Production

Strange US Sept Oil Production
A strange thing happenned last week.

The US came out with its "official" oil production for Sept, 2022.     It reported the number at 12,268 million barrels per day.

Each week the US EIA estimates this same number.    All year, those estimates have been about 200,000 higher than the actual number reported two months later.

However suddenly that changed.     The estimated weekly numbers from Sept average 12,050.

That should of translated into about 11,850 official barrels per day once, but this time, the offical number was suddenly 218,000 barrels per day higher than the estimate.

How did that happen?

Every month the US models have over estimated actual production by 200,000 boe, then suddenly in September, the estimate is suddenly 200,000 less than actual.

Note that nothing usual happenned in the Sept estimates - they didn't take a sudden drop of 400,000 from the Aug estimates.

Something smells off..............
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