Obsidian Energy Ltd

Obsidian Energy Ltd. is an exploration and production company. The firm engages in exploring, developing, and holds 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. Its property portfolio includes Cardium, Viking, and Peace River. The company was founded on December 27, 1979 and is headquartered in Calgary, Canada.

Earnings data Q4 2019

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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Earnings data Q4 2024

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Obsidian Energy has achieved a roughly 20% production increase. The company benefits from historically acquired, low-cost acreage. The historically acquired acreage has increased in value because of technological advances.

Obsidian Energy: A Flexible Way To Add Heavy Oil Production

Higher third quarter funds flow from operations of $124.7 million ($1.64 per share) — a 34 percent increase over the third quarter of 2023 on a per share basis 2024 average production expected to be at the top end of guidance range Robust Clearwater exploration/appraisal drilling results at West Dawson establishes new development field Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to report our operating and financial results for the third quarter of 2024.

Obsidian Energy Announces Third Quarter 2024 Results

Calgary, Alberta--(Newsfile Corp. - October 24, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") expects to release our third quarter 2024 financial and operational results (the "Release") before North American markets open on Thursday, October 31, 2024.

Obsidian Energy Announces Date of Third Quarter 2024 Results

Calgary, Alberta--(Newsfile Corp. - October 7, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") today announced an increase to our syndicated credit facility (the "Credit Facility") along with the substantial repayment of our term loan (the "Term Loan").

Obsidian Energy Announces Syndicated Credit Facility Increase to $300 Million

• 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, Alberta--(Newsfile Corp. - September 30, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an update to our 2024 guidance that includes ongoing strong second half 2024 drilling results that continue to exceed our initial expectations.

Obsidian Energy Announces Increased 2024 Production Guidance and Revised Capital Program

• Increased August average production to ~40,000 boe/d (based on internal field estimates) • Grew Peace River total average production to ~11,500 boe/d, which included ~3,800 boe/d of Clearwater production (based on internal field estimates) • Revised 2024 guidance range upwardly to reflect higher production midpoint Calgary, Alberta--(Newsfile Corp. - September 9, 2024) - OBSIDIAN ENERGY LTD. (TSX:  OBE) ( NYSE American: OBE) (" Obsidian Energy ", the " Company ", " we ", " us " or " our ") is pleased to provide an operational update that includes strong drilling results from our current development program that, in aggregate, exceed our initial expectations, driving an associated increase in the bottom-end and midpoint of our 2024 production guidance.

Obsidian Energy Announces Strong Peace River Results and Upwardly Revised Guidance

Calgary, Alberta--(Newsfile Corp. - August 5, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announced that it has filed a resale shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (the "SEC") on August 2, 2024, for administrative purposes related to the holdings of Stephen Loukas, the Company's President and Chief Executive Officer and John Brydson, an independent member of the Board of Directors.

Obsidian Energy Announces Filing of Resale Shelf Registration Statement for Administrative Purposes

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. - August 1, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to report strong operating and financial results for the second quarter of 2024.

Obsidian Energy Announces Second Quarter 2024 Results

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.

Obsidian Energy Announces Date of Second Quarter 2024 Results

Calgary, Alberta--(Newsfile Corp. - June 26, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce it has closed its previously announced acquisition of approximately 1,700 boe/d (100 percent oil, based on April 2024 actual production) of Clearwater production and 148 net sections of land in the Peace River area (the "Acquisition") from a third-party (the "Vendor").

Obsidian Energy Announces Closing of Peace River Acquisition

Obsidian (OBE) resumes production after resolving its dispute with Woodland Cree First Nation. The two parties have entered into an equitable agreement that is fair and beneficial to both.

Obsidian (OBE) Resumes Production at Harmon Valley South Field

Canada's Woodland Cree First Nation said on Tuesday it has ended its dispute with oil and gas producer Obsidian Energy to expand drilling operations on its traditional territory.

Canadian First Nation agrees with Obsidian Energy's drilling expansion plans

Commences Restart of Production at our Harmon Valley South field Calgary, Alberta--(Newsfile Corp. - June 11, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy”, the “Company”, “we” or “our”) today announced that we have reached a mutually beneficial agreement in principle with the Woodland Cree First Nation (the "WCFN").

Obsidian Energy Announces Agreement with the Woodland Cree First Nation

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Obsidian's development program is going well, and it has recently averaged over 35,500 BOEPD in production despite 4,500 BOEPD in shut-in production. It also made a US$55 million Peace River acquisition that further adds to its inventory and production. A blockade by the Woodland Cree First Nation is resulting in the shut-in production.

Obsidian Energy: Strong Peace River Development Results, But Dispute Must Be Resolved

•  Peace River Peavine and Gift Lake acquisition provides additional production, reserves and development potential along the Clearwater trend from our successful Dawson field •  2024 Guidance revised to reflect the acquisition, reduced capital expenditures and higher average production, funds flow from operations and free cash flow with oil / liquids weighting increased to 70 percent Calgary, Alberta--(Newsfile Corp. - May 28, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce it has entered into a purchase and sale agreement (the "Agreement") to acquire approximately 1,700 boe/d (100 percent oil, based on April 2024 actual production) of Clearwater production and 148 net sections of land in the Peace River area (the "Acquisition") from a third-party (the "Vendor").

Obsidian Energy Announces Peace River Acquisition and Increased 2024 Average Production Guidance

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 development area are encouraging with 1,330 boe/d production (100 percent oil) over the last 30 days Pembina Cardium Unit #9 ("PCU#9") 6-08 Pad wells onstream with a gross average 30-day initial production rate of 403 boe/d (81 percent oil) per well Calgary, Alberta--(Newsfile Corp. - May 28, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an operational update on our first half 2024 capital program, largely completing the program across our Peace River and Willesden Green/Pembina (Cardium) assets.

Obsidian Energy Announces 2024 Development Program Results Above Expectations

Calgary, Alberta--(Newsfile Corp. - May 15, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") today disclosed details regarding a commercial dispute with the Woodland Cree First Nation (the "WCFN").

Obsidian Energy Discloses Details of Commercial Dispute with Woodland Cree First Nation

Canada's Woodland Cree First Nation has rejected oil and gas producer Obsidian Energy's proposal to expand drilling operations on its traditional territory, the Indigenous community said in a statement on Monday.

Canadian First Nation rejects Obsidian Energy drilling expansion plans

Corporate presentation and management webcast available for replay on website Calgary, Alberta--(Newsfile Corp. - May 2, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that at our annual and special meeting of shareholders held on May 2, 2024, Obsidian Energy's shareholders approved all resolutions outlined in the Notice of 2024 Annual and Special Meeting and Management Proxy Circular dated March 15, 2024 (the "Information Circular"), which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on Obsidian Energy's website at www.obsidianenergy.com.

Obsidian Energy Announces Voting Results from the 2024 Annual and Special Meeting of Shareholders

• Increased average production to 34,238 boe/d, up 11 percent per share over the first quarter of 2023; an additional 17 (17.0 net) operated wells came on production in April • Generated funds flow from operations of $84.4 million ($1.09 per share) • Began active first half development program with 25 (24.4 net) operated wells rig released and 11 (11.0 net) operated wells brought on production during the quarter • Initial Peace River 8-28 Pad Bluesky results are above type curve with an average pad 25-day IP rate of 533 boe/d (100 percent oil) per well • Accelerated Clearwater development at Peace River Dawson field with the addition of four (4.0 net) wells to the first half program Calgary, Alberta--(Newsfile Corp. - May 2, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to report strong operating and financial results for the first quarter of 2024.

Obsidian Energy Announces First Quarter 2024 Results

Calgary, Alberta--(Newsfile Corp. - April 25, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") expects to release our first quarter 2024 financial and operational results (the "Release") before North American markets open on Thursday, May 2, 2024.

Obsidian Energy Announces Date of First Quarter 2024 Results and AGM Webcast

Calgary, Alberta--(Newsfile Corp. - March 14, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") today announced completion of our previously announced offer (the "Offer") to purchase for cash, up to an aggregate amount of $2.0 million of our outstanding 11.95 percent Senior Unsecured Notes due July 27, 2027 (the "Notes").

Obsidian Energy Completes Offer to Purchase $2.0 Million of our Outstanding Senior Unsecured Notes

Obsidian Energy Ltd. is attempting to grow production by 12% in 2024. Obsidian's 2024 free cash flow is projected at US$35 million at current strip. The relatively limited free cash flow is largely due to spending on production growth.

Obsidian Energy: Limited Free Cash Flow Expected In 2024 As It Grows Production

• Latest Pembina four-well pad produced at peak rate of over 2,000 boe/d at top end of expectations • Continued robust Viking performance with 2023 eight-well pad producing at rates over 1,300 boe/d• Nampa Clearwater well producing at strong early rates with superior oil quality Calgary, Alberta--(Newsfile Corp. - February 28, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an operational update on our first half 2024 capital program.

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