Obsidian Energy First Quarter 2022 Results

  • Strong first quarter average production of 29,407 boe/d; current production further grew to 33,000 boe/d based on recent drilling success
  • Active first half four-rig drilling program with 19 operated wells (18.5 net) rig-released in the quarter and 14 wells (13.5 net) now on production
  • Strong production rates from new Peace River wells from late 2021 and early 2022 programs
  • 2022 production range further increased by 200 boe/d to between 30,300 to 31,300 boe/d
  • Funds flow from operations was $101.3 million in the quarter, excluding $22.7 million of share-based compensation charges
  • New member appointed to the Board of Directors

Oil & Gas Permit Download

Obsidian Wells Drilled Since 2020

Obsidian Facility Permits Since 2020

Well Permit Summary

Calgary, Alberta–(Newsfile Corp. – May 4, 2022) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to report operating and financial results for the first quarter of 2022.

Three Months Ended
March 31
(millions, except per share amounts)
Cash flow from operating activities83.928.4
Basic per share ($/share)21.030.39
Diluted per share ($/share)21.000.37
Funds flow from operations378.636.3
Basic per share ($/share)40.970.49
Diluted per share ($/share)40.940.48
Net income23.823.2
Basic per share ($/share)0.290.32
Diluted per share ($/share)0.280.31
Capital expenditures103.429.5
Decommissioning expenditures8.53.3
Long-term debt368.4439.9
Net debt3448.8455.0
Daily Production
Light oil (bbl/d)11,11410,014
Heavy oil (bbl/d)5,7892,788
NGL (bbl/d)2,4322,056
Natural gas (mmcf/d)6050
Total production5 (boe/d)29,40723,225
Average sales price6
Light oil ($/bbl)117.9167.34
Heavy oil ($/bbl)84.7740.48
NGL ($/bbl)68.0941.04
Natural gas ($/mcf)4.963.21
Netback ($/boe)
Sales price77.0744.21
Risk management gain (loss)(6.58)(2.44)
Net sales price70.4941.77
Net operating costs4(13.93)(13.52)
Netback4 ($/boe)42.4523.78

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