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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 thetruth54on Feb 22, 2024 12:01pm
131 Views
Post# 35893463

Macro looking better for oil. It will only get better

Macro looking better for oil. It will only get better
As we approach the strong season for oil demand with the rate cuts on the horizon great things are moving in place that will help lift OBE. Increased production plus higher oil prices now that is a great combination for OBE investors. Moreover, it appears for the first time since I can remember Loukas has actually done something to lift the stock and improve shareholder value. I also can't remember when OBE released an earnings report and the market reacted favorably. Hopefully this continues beyond today. Here is some of the latest important macro news:  

US Manufacturing Activity Expands at Fastest Pace Since 2022
Vince Golle
 
Thu, Feb 22, 2024, 11:07 AM 
 
(Bloomberg) -- US manufacturing activity expanded at the fastest pace since September 2022, powered by stronger orders growth and suggesting producers are breaking out of an extended slump.
The S&P Global flash February purchasing managers index advanced to 51.5 from 50.7. Readings greater than 50 indicate expansion and, while only modest, the gauge has shown growth in consecutive months for the first time in over a year
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