Obsidian Energy Ltd T.OBE

Alternate Symbol(s): OBE

Obsidian Energy Ltd. is a Canada-based exploration and production company. The Company’s principal business consists of the exploration, development and production of petroleum resources. The Company is mainly focused on the Peace River asset. The Peace River is a stable, cold-flow heavy oil Bluesky resource with Clearwater upside within the Peace River Oilsands region. It has full ownership in a large, contiguous 680 section area of land at Peace River. It has a production base of approximately 30,000 boe/d with the Peace River and is its largest asset as it grows its Clearwater and Bluesky production and establishes new fields in the area. Its other assets include Willesden Green and Viking light oil assets. It also has non-operated holdings in the Pembina Cardium Unit #11.

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Obsidian Energy Ltd

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Post by uwebb429on May 07, 2025 8:21pm

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Post# 36565134

Maintain Discipline

https://calgaryherald.com/opinion/columnists/varcoe-canadian-oil-companies-adjust-new-reality-prices-below-us60

On Wednesday, junior producer Obsidian Energy trimmed its capital spending program for the first half of the year by about 13 per cent to $168 million, saying it will defer drilling initially planned for the April-to-June period.

If prices don’t improve by the time spring breakup ends, the company will “significantly reduce” its second-half capital spending to keep its production flat, Obsidian Energy CEO Stephen Loukas said.

“We think that it’s important that oil companies maintain discipline,” Loukas said in an interview.

“We would want to see higher oil prices before we get back to a growth-oriented strategy.”

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