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Obsidian Energy Ltd : Obsidian Energy Provides Operational Update
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Obsidian Energy Ltd : Obsidian Energy Announces Increased 2021 Production and Capital Expenditure Guidance with Second Quarter 2021 Results
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Obsidian Energy Ltd.: Obsidian Energy Announces First Quarter 2021 Results and Successful First Half Development Program
Robust initial well results with first five wells on-stream; completion activity commenced on remaining four wells
Free cash flow generation results in lower net debt
Calgary, Alberta (Newsfile Corp. - May 7, 2021) - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (
Obsidian
Three Months Ended March 31
2021
Cash flow from operations
(1) The terms funds flow from operations (
FFO ) and their applicable per share amounts, net debt , netback and net operating expenses are non-GAAP measures. Please refer to the Non-GAAP Measures advisory section below for further details.
(2) Please refer to the Oil and Gas Information Advisory section below for information regarding the term boe .
us or our ) is pleased to announce its independent reserves evaluation for the year ended December 31, 2020, prepared by Sproule Associates Limited ( Sproule ). We re extremely pleased with our reserves results in 2020, said Stephen Loukas, Obsidian Energy s Interim President and CEO. It was a challenging year with extreme oil price volatility impacting all aspects of our business. Despite this environment, our team continued to deliver strong results by drilling some of the most prolific wells in the Cardium that the Company has seen to date. Due to a combination of our deep Cardium inventory and continued cost efficiency gains, we achieved our fourth straight year of greater than 100 percent reserve replacement on total proved reserves and total proved plus probable reserves despite the significantly lower commodity price environment.
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