Obsidian Energy Announces 2024 Operations Update and Commencement of 2025 Drilling Program
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Obsidian Energy has announced its 2024 operations update, highlighting an estimated average production of 37,450 boe/d, which exceeds their guidance range. The company has completed its 2024 capital program, further delineating its Peace River acreage. Successful drilling results were reported in the Peavine and Gift Lake areas, with the Peavine 8-13 Pad achieving a 30-day IP rate of 302 boe/d per well. Additionally, Pembina results surpassed expectations with over 1,100 boe/d from the two-well 12-19 Pad.
January 14, 2025 | 12:15 pm
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Obsidian Energy's 2024 operations update reveals production exceeding expectations and successful drilling results in key areas, potentially boosting investor confidence.
The announcement of production exceeding guidance and successful drilling results in key areas like Peace River and Pembina suggests operational efficiency and potential revenue growth, likely leading to a positive short-term impact on Obsidian Energy's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100