. . . Obsidian Energy Announces Increased 2024 Production Guidance and Revised Capital Program September 30, 2024 6:40 PM EDT | Source: Obsidian Energy Ltd. • Revised 2024 guidance range upward to 37,000 to 37,400 boe/d with continued outperformance of development program • Recalibrated fourth quarter 2024 capital program to allow incremental share buybacks and additional debt reduction • Licensed initial well targeting Belly River formation in Willesden Green to be drilled in the fourth quarter Calgary, Al ...

Grew year-over-year average daily production by 15 percent to 35,773 boe/d Increased funds flow from operations by 41 percent on a per share basis to $115.2 million ($1.51 per share) Completed first half capital program with 34 (33.4 net) operated wells rig released and 33 (32.4 net) wells brought on production Completed the Peace River Clearwater acquisition, expanding our land base to 680 net sections with the addition of 148 net sections and production of 1,700 boe/d Calgary, Alberta--(Newsfile Corp. - A ...

Calgary, Alberta--(Newsfile Corp. - July 25, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") expects to release our second quarter 2024 financial and operational results (the "Release") before North American markets open on Thursday, August 1, 2024. In addition, the second quarter management's discussion and analysis and the unaudited consolidated financial statements will be available on our website at www.obsidianenergy.com, and under ou ...

Core Viewpoint - Obsidian Energy has successfully completed the acquisition of approximately 1,700 barrels of oil equivalent per day (boe/d) of Clearwater production and 148 net sections of land in the Peace River area for a total consideration of approximately $80.5 million, enhancing its operational capacity and growth potential in the region [5][11]. Acquisition Details - The acquisition includes 1,700 boe/d of production, which is 100% oil based on April 2024 actual production [5]. - The total consideration for the acquisition was approximately $80.5 million, which includes liquids inventory and closing adjustments, with an effective date of May 1, 2024 [11]. - The cash consideration was funded through a syndicated bank facility and a $50 million term loan, maturing in June 2025 [11]. Strategic Implications - The acquisition is expected to provide further upside and optionality within the Peace River operating area, with approximately 200 total drilling locations identified on the acquired lands [6]. - Of these locations, 103 are on trend with the successful Clearwater Dawson development, including 49 proved plus probable locations [6]. Financial Support - The financing for the acquisition was supported by Royal Bank of Canada, Bank of Montreal, and Canadian Western Bank [6]. Future Growth Plans - The acquisition aligns with Obsidian Energy's three-year corporate growth plan for 2024-2026, indicating a strategic move to enhance production capabilities and operational efficiency [6].

Group 1: Company Overview - Obsidian Energy Ltd. (OBE) is a Calgary-based exploration and production firm that has resolved its dispute with Woodland Cree First Nation (WCFN) and is resuming production in its Harmon Valley South field [4][8] - The company's production is estimated at 31,000 barrels of oil equivalent per day (boe/d), with the Harmon Valley South Field previously producing 4,500 net boe/d before the blockade [5] Group 2: Dispute Resolution - The dispute with WCFN arose in February due to concerns over Obsidian's expansion plans and seismic activity in the region [4] - Following extensive discussions facilitated by a mediator, an agreement in principle was reached, leading to the removal of the blockade [8] - The agreement has a term until the end of 2025, although other conditions remain confidential [8] Group 3: Market Position - Obsidian currently holds a Zacks Rank of 4 (Sell), indicating a less favorable market position [9] - In contrast, other companies in the energy sector, such as Archrock, SM Energy, and Hess Midstream, have better rankings, with Archrock rated as a Strong Buy [6][7]

zhengzaishuru Obsidian Energy (NYSE:OBE)(TSX:OBE:CA) announced positive results for its 1H 2024 development program, underpinned by strong heavy oil well results. It also made a Peace River acquisition that increases its net sections of Peace River land by over 25% and its Peace River production by over 20%. I believe these items should increase Obsidian's estimated value by approximately US$0.50 per share. However, Obsidian is currently involved in a significant dispute with the Woodland Cree First Nation. ...

Pembina (Cardium): HEAVY OIL ASSETS (PEACE RIVER) We are excited about the results to date of our 2024 development and exploration/appraisal programs in Peace River. Currently 13 (13.0 net) wells of the 15 (15.0 net) operated well development program have been rig Substantially completed active first half development program with 32 (31.4 net) operated wells rig released and 30 (29.4 net) operated development wells brought on production to date Robust results from our Peace River Dawson Clearwater developme ...

Exhibit 99.1 Obsidian Energy Announces Fourth Quarter and Full Year 2023 Results Average 2023 production increased five percent over 2022 and 12 percent on a per share basis Generated funds flow from operations of $377.6 million and free cash flow of $58.5 million Repurchased and cancelled six percent of shares outstanding for $47.4 million CALGARY, February 22, 2024 - OBSIDIAN ENERGY LTD. (TSX / NYSE American – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to report strong operati ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number 1-32895 Obsidian Energy Ltd. (Translation of registrant's name into English) Suite 200, 207 – 9th Avenue SW Calgary, Alberta T2P 1K3 Canada (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 Fo ...

Financial Performance - Funds flow from operations (FFO) increased by 107% to $450.7 million ($5.50 per basic share) in 2022, compared to $217.9 million ($2.90 per basic share) in 2021[9] - Net income for 2022 was $810.1 million ($9.88 per basic share), a substantial increase from $414.0 million ($5.52 per basic share) in 2021[11] - Cash flow from operating activities for Q4 2022 was $126.5 million, compared to $62.6 million in Q4 2021[48] - The netback for the year ended December 31, 2022, was $524.1 million, up from $282.1 million in 2021[50] Capital Expenditures and Production - Capital expenditures totaled $314.8 million in 2022, significantly up from $141.0 million in 2021, contributing to a 25% increase in annual production year over year[11] - The company replaced 144% of 2022 production on a proved developed producing (PDP) basis, with total proved plus probable (2P) reserves increasing by 54% to $2.8 billion[11] - The company drilled 61 wells (59.5 net) in 2022, contributing to significant reserve additions despite some delays due to extreme cold weather[13] Debt and Financial Health - Net debt decreased to $316.8 million at December 31, 2022, down from $413.5 million at the end of 2021, improving the net debt to FFO leverage to 0.7 times[11] - Total long-term debt decreased to $225.3 million as of December 31, 2022, down 42.4% from $391.0 million in 2021[53] - Net debt as of December 31, 2022, was $316.8 million, a reduction of 23.4% from $413.5 million in 2021[53] Operating Costs - General and administrative (G&A) costs were $1.64 per boe in 2022, slightly down from $1.69 per boe in 2021[11] - Net operating costs rose to $14.29 per boe in 2022, compared to $13.04 per boe in 2021, influenced by higher power costs and inflation[11] - Operating costs for Q4 2022 were $47.6 million, up 47.9% from $32.4 million in Q4 2021[51] - Net operating costs for the year ended December 31, 2022, were $160.0 million, an increase of 36.7% compared to $117.1 million in 2021[51] Future Plans and Strategies - A normal course issuer bid (NCIB) was approved in January 2023, allowing the company to buy back up to 10% of its public float, totaling a maximum of 8,073,847 common shares[12] - The company plans to spend $26 to $28 million on decommissioning expenses targeting inactive inventory in 2023[30] - The company anticipates continued evaluation of future development opportunities, particularly for the Peace River asset[58] - The company expects to maintain its capital programs and operational plans despite potential disruptions from external factors[59] - Future operating costs and general administrative costs are projected to remain stable, with a focus on optimizing production efficiency[59] - The company is pursuing additional debt capacity to support its growth initiatives and operational needs[58] - The company plans to continue its share repurchase program under the NCIB, contingent on financial resources and market conditions[61] Production Rates - The Dawson 12-33 Pad well has a peak production rate of 123 bbl/d and current production at approximately 96 bbl/d with a 15% water-cut and oil quality of 12.4o API[22] - The Crimson 8-36 Pad wells achieved an average 10-day initial production rate of 259 boe/d (65% light oil) and the Crimson 9-02 Pad well had an average rate of 166 boe/d (90% light oil)[23] - The Crimson 12-26 Pad well is showing an average 10-day initial production rate of 397 boe/d (69% oil)[24] - The South Pembina 14-6 Pad wells averaged IP 30-day rates of 292 boe/d (59% light oil)[25] Environmental and Regulatory Compliance - The company successfully abandoned a total of 796 net wells and 1,121 kilometers of pipeline with support of $30.5 million from the Alberta Government's ASRP program[29] - As of February 22, 2023, the company has hedged 72% of its natural gas production for April to October 2023 at a swap price of C$3.55/mcf[31] Market Considerations - The impact of global health events on energy demand and commodity prices remains a key consideration for future performance[61]