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Obsidian (OBE) resumes production after resolving its dispute with Woodland Cree First Nation. The two parties have entered into an equitable agreement that is fair and beneficial to both.
Canada's Woodland Cree First Nation said on Tuesday it has ended its dispute with oil and gas producer Obsidian Energy to expand drilling operations on its traditional territory.
Obsidian's development program is going well, and it has recently averaged over 35,500 BOEPD in production despite 4,500 BOEPD in shut-in production. It also made a US$55 million Peace River acquisition that further adds to its inventory and production. A blockade by the Woodland Cree First Nation is resulting in the shut-in production.