Obsidian Energy cuts FY capex outlook, flags volatility in broader oil and gas markets [Seeking Alpha]
Obsidian Energy Ltd. (OBE)
Last obsidian energy ltd. earnings: 8/2 06:30 am
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US:NYSE Investor Relations:
obsidianenergy.com/investor-centre
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Source: Seeking Alpha
of light oil spending towards incremental share buybacks, citing market uncertainty. The company has, meanwhile, increased its 2024 production guidance range to 37,000 to 37,400 boe/d from 36,400 - 37,000 earlier, a 15% increase from 32,275 boe/d in 2023. Obsidian Energy ( OBE ) also lowered its WTI forecast to $72.50/bbl for the remainder of 2024, and will reallocate a portion of light oil spending towards incremental share buybacks through normal course issuer bid and further debt reduction. In total, the reallocation of capital is only expected to impact average 2024 production by approximately 40 boe/d, Obsidian Energy ( OBE ) said in a statement. "... the recent volatility in both the broader oil and gas markets as well as with our share price has resulted in a dynamic whereby our equity valuation is significantly below new development economics within our light oil portfolio," Stephen Loukas, Obsidian Energy's President and CEO said. However, the company has increased
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News
- Edward Kernaghan buys as Obsidian Energy stock lags [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Obsidian Energy Ltd. (NYSE:OBE): Among The 10 Oversold Canadian Stocks to Buy Right Now [Yahoo! Finance]Yahoo! Finance
- Obsidian Energy Announces Increased 2024 Production Guidance and Revised Capital Program [Yahoo! Finance]Yahoo! Finance
- Returns At Obsidian Energy (TSE:OBE) Are On The Way Up [Yahoo! Finance]Yahoo! Finance
- Obsidian Energy: Heavy Oil Production May Reach 12,000 Barrels Per Day By Late 2024 [Seeking Alpha]Seeking Alpha
OBE
Sec Filings
- 11/7/24 - Form SC
- 11/7/24 - Form 144
- 10/31/24 - Form 6-K
- OBE's page on the SEC website