Obsidian Energy (TSE:OBE) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Obsidian Energy has nearly completed its 2024 development program, with positive results from 32 wells drilled and 30 wells now producing, leading to a current production of over 35,500 boe/d, which could rise to approximately 40,000 boe/d without current blockades. The company’s Peace River Dawson Clearwater area is showing promising output, and the Cardium wells are significantly contributing to cash flow with strong initial production rates. Obsidian’s President and CEO, Stephen Loukas, expresses satisfaction with the first half’s performance, which surpassed expectations and has provided valuable insights for future development.
For further insights into TSE:OBE stock, check out TipRanks’ Stock Analysis page.
