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Obsidian Energy ( (TSE:OBE) ) has issued an announcement.
Obsidian Energy announced its 2024 operations update and the commencement of its 2025 drilling program, with 2024 production exceeding expectations at 37,450 boe/d. The company successfully completed its 2024 capital program, further delineating its Peace River acreage and achieving strong production results from new wells in the Peavine and Gift Lake areas. The company’s strategic focus on both heavy and light oil assets, coupled with a share buyback program, has positioned it for continued growth, with a target of reaching 50,000 boe/d of production by 2026.
More about Obsidian Energy
Obsidian Energy Ltd. operates in the oil and gas industry, focusing on the production and development of oil and natural gas resources. The company is primarily engaged in the exploration and production of heavy and light oil assets, with a market focus on stable production and cash flow growth.
YTD Price Performance: 1.00%
Average Trading Volume: 395,375
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $458.9M
For a thorough assessment of OBE stock, go to TipRanks’ Stock Analysis page.
