Obsidian Energy Ltd (TSE:OBE) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Obsidian Energy Ltd. reported a notable increase in first quarter production for 2024, up 11% per share year-over-year, reaching 34,238 barrels of oil equivalent per day (boe/d), driven by the successful deployment of 17 new wells. Funds flow from operations amounted to $84.4 million, despite a 10% decrease from the previous year, cushioned by higher production and reduced operating costs. The company also emphasized strong performance in its Peace River operations and continued its share buyback program, repurchasing 1.05 million shares.
For further insights into TSE:OBE stock, check out TipRanks’ Stock Analysis page.
