Obsidian Energy (TSE:OBE) has released an update.
Obsidian Energy has reported robust results from their Peace River operations, leading to an increased average production of around 40,000 barrels of oil equivalent per day (boe/d) and a revision of their 2024 production guidance to a higher midpoint of 36,700 boe/d. These positive developments have been driven by the stronger-than-expected performance of their light oil and heavy oil assets, particularly in the Peace River area, where the company has recently placed several wells into production.
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