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Obsidian Energy Posts 16% YoY Production Growth In 2024, Reaching 37,450 boe/d, And Launches 2025 Drilling Program

Benzinga·01/14/2025 12:09:33
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  • Estimated 2024 average production of approximately 37,450 boe/d exceeded the top end of our guidance range
  • Completion of 2024 capital program provided furthers delineation of Peace River acreage
  • Successful results from first wells drilled in new Peavine and Gift Lake areas in Peace River
    with the Peavine 8-13 Pad achieving an average 30-day initial production ("IP") rate of
    302 boe/d (100 percent oil) per well
  • Pembina results exceeded expectations with current production of over 1,100 boe/d from the two-well 12-19 Pad