Summary
P13A Chart
Obsidian Energy: Reduced Growth Plans Due To The Commodity Pricing Environment
Obsidian may now hold production flat around 29,000 BOEPD in the current oil pricing environment. This would allow it to put more funds towards share repurchases and debt reduction. The value of Obsidian's stake in InPlay Oil has rebounded from early May lows.
Obsidian Energy Ltd. (OBE) Q1 2025 Earnings Call Transcript
Call Start: 16:00 January 1, 0000 4:49 PM ET Obsidian Energy Ltd. (NYSE:OBE ) Q1 2025 Earnings Call May 7, 2025 16:00 ET Company Participants Mark Hawkins - Vice President, Legal Stephen Loukas - President and Chief Executive Officer Peter Scott - Chief Financial Officer Jay McGilvary - Vice President, Development Gary Sykes - Vice President, Business Development, Commercial and Corporate Planning Cliff Swadling - Vice President, Operations Operator Thank you for standing by.
Obsidian Energy Reduces Its Debt Through Its Pembina Asset Sale
Obsidian Energy sold Pembina assets for CAD 320 million, with over 65% of the consideration in cash. This helped Obsidian reduce its net debt by over 50% and pay down most of its credit facility debt. Obsidian's financial health has improved, but it is mostly unhedged on oil and dealing with $60 WTI oil now.
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Obsidian Energy Ltd. Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Stephen Elias Loukas CEO | XSTU Exchange | CA6744822033 ISIN |
| CA Country | 203 Employees | 10 Jun 2019 Last Dividend | 10 Jun 2019 Last Split | - IPO Date |
Overview
Obsidian Energy Ltd. is a notable entity in the energy sector, primarily focused on the exploration, production, and development of oil and natural gas properties predominantly in the Western Canada region. Originally operating under the name Penn West Petroleum Ltd., the company underwent a significant rebranding in June 2017, adopting its current name, Obsidian Energy Ltd. This change marked a new phase in the company’s commitment to providing energy solutions. Headquartered in Calgary, Canada, Obsidian Energy maintains a significant presence in its operational areas, contributing to the local and national energy supply with its extensive portfolio of projects.
Products and Services
- Exploration Services
Obsidian Energy specializes in the exploration of oil and natural gas fields. Leveraging cutting-edge technology and extensive geological research, the company identifies promising areas for the extraction of hydrocarbons. This strategic exploration forms the backbone of Obsidian Energy's operations, facilitating the discovery and assessment of viable energy resources.
- Oil Production
At the core of Obsidian Energy's offerings is the production of oil. Through advanced extraction techniques and the application of industry-leading practices, the company efficiently extracts oil from its well-developed fields. This critical operation not only supports the company’s growth but also contributes to meeting the energy demands of its market.
- Natural Gas Development
Alongside oil, Obsidian Energy is deeply involved in the development of natural gas properties. This involves a comprehensive process from exploratory drilling to the development of extraction and processing facilities. The company's dedicated efforts in natural gas development underscore its commitment to diversifying its energy portfolio and enhancing energy security.
Contact Information
