Obsidian Energy Ltd.

• Reserve replacement of 124 percent, 157 percent and 217 percent of 2023 production on a proved developed producing , total proved , and total proved plus probable basis, respectively Obsidian Energy Ltd. is pleased to announce the results of our independent reserves evaluation for the year ended December 31, 2023 prepared by GLJ Ltd. . "Our 2023 reserves reflect the high level of activity and success of our capital [...]

• Capital program with 78 operated wells expected to generate 12 percent annual production growth over 2023 • ~$350 million capital program is ~$30 million lower from previous forecast at midpoint • Development plan weighted towards Peace River, expanding on our Bluesky and Clearwater success from 2023 • 2024 plan is expected to generate funds flow from of operations of ~ $400 million and positive free [...]

Obsidian Energy Ltd. announces that we expect to release our 2024 capital and operating budget and associated guidance before North American markets open on January 25, 2024. In conjunction with the Release, our President and CEO, Mr. Stephen Loukas and other members of management will host a webcast presentation online at 9:00 a.m. Mountain Standard Time . The Presentation will be broadcast live on the Internet and may [...]

Peace River Clearwater results yield robust early production rates, continuing to delineate the Dawson area Peace River Bluesky Walrus field results in a successful extension and deeper zone test, adding substantial inventory upside Strong performance resulted in 2023 average production at the top end of our guidance range of 32,500 boe/d Obsidian Energy Ltd. is pleased to provide an operational update on our second half [...]

Increased average production by 10 percent over the third quarter of 2022 due to the strong performance of our development program Generated funds flow from operations of $98.9 million during the quarter, resulting in free cash flow of $47.7 million and net debt reduction to $294.3 million Commenced second half 2023 development program while completing major facility debottlenecking project subsequent to the quarter [...]

Obsidian Energy Ltd. announces that we expect to release our third quarter 2023 financial and operational results before North American markets open on Thursday, November 9, 2023. In addition, the third quarter management's discussion and analysis and the unaudited consolidated financial statements will be available on our website at www.obsidianenergy.com, and under our SEDAR+ profile at www.sedarplus.ca and EDGAR [...]

Obsidian Energy Ltd. announces that we will be participating in the Schachter 2023 Catch the Energy Conference on Saturday, October 14, 2023, in Calgary at Mount Royal University. Gary Sykes, Senior Vice President, Commercial and Development, will discuss the Company in a presentation at 11:30 a.m. MDT in Presentation Room 3. Members of Obsidian Energy's management team will be available at their exhibitor booth for more [...]

Peace River assets drive corporate production growth to 50,000 boe/d in 2026, while maintaining 25 percent flat annual corporate decline rate Peace River area production growth to 24,000 boe/d in 2026 from current rate of 6,600 boe/d, resulting in a nine percent increase in our total liquids weighting to 76 percent Plan generates $291 million of free cash flow from 2024 to 2026 at US$75.00/bbl WTI 2023 capital budget [...]

Obsidian Energy Ltd. further to our press release earlier today, please be advised our presentation at 4:00 p.m. ET on Tuesday, September 12, 2023 at the Peters & Co. Limited 27th Annual Energy Conference will not be live webcast but a recording will be available post the event on our website. ADDITIONAL READER ADVISORIES FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements or information [...]

Obsidian Energy Ltd. announces that we will be participating in the Peters & Co. Limited 27th Annual Energy Conference from Tuesday, September 12 to Thursday, September 14, 2023 in Toronto, Ontario at the Ritz-Carlton Hotel. Stephen Loukas, President and CEO will discuss the Company in a presentation at 4:00 p.m. ET on Tuesday, September 12, 2023. Mr. Loukas along with Peter Scott, Senior Vice President and Chief [...]