Obsidian Energy Ltd

Obsidian Energy Ltd. is an exploration and production company. The firm engages in exploring, developing, and holds interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. Its property portfolio includes Cardium, Viking, and Peace River. The company was founded on December 27, 1979 and is headquartered in Calgary, Canada.

Earnings data Q4 2019

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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The Albertan wildfires may reduce Obsidian's Q2 2023 production by over 2,000 BOEPD, while impacting its full-year production by around 600 BOEPD. This (and lower commodity prices) reduces my estimates for Obsidian's 2023 FCF to US$45 million. Obsidian is helped by narrowing heavy oil differentials, while lower royalties offset some of the commodity price impact.

Obsidian Energy: Wildfires Impact Q2 2023 Production

Calgary, Alberta--(Newsfile Corp. - May 31, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces an increase to our syndicated credit facility and provides an update on both the results of our first half 2023 Viking drilling program and the expected impact of Alberta wildfires on production and funds flow from operations.

Obsidian Energy Announces Increase to Syndicated Credit Facility, Results of Viking Drilling and Update on Alberta Wildfires

Calgary, Alberta--(Newsfile Corp. - May 23, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an update on the status of our operations impacted by recent Alberta wildfires.

Obsidian Energy Alberta Wildfire Update: Additional Fields Coming Back Online

Calgary, Alberta--(Newsfile Corp. - May 18, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an update on the status of temporarily shut-in operations due to the impact of recent Alberta wildfires.

Obsidian Energy Alberta Wildfire Update: Fields Coming Back Online

Calgary, Alberta--(Newsfile Corp. - May 16, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") provides an update on operations and employees impacted by recent Alberta wildfires.

Obsidian Energy Provides Update on Impact of Alberta Wildfires

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A number of energy companies, including Cenovus Energy CVE and Obsidian Energy OBE, halted some operations due to Alberta wildfires.

Alberta wildfires halt some energy companies' operations

Calgary, Alberta--(Newsfile Corp. - May 8, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") provides an update on operations and employees impacted by recent Alberta wildfires.

Obsidian Energy Advises on Impact of Alberta Wildfires

Strong performance and production increases from all development areas resulted in 33,153 boe/d average production for the quarter Funds flow from operations was $94.3 million in the quarter (20 percent increase from the first quarter of 2022) Peace River development and exploration program extends Walrus Bluesky play and further delineates acreage for both Bluesky and Clearwater formations Settled $9.8 million of equity award plans in cash as opposed to issuing more shares, given the significant discount of our share price to our intrinsic value Calgary, Alberta--(Newsfile Corp. - May 4, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to report strong operating and financial results for the first quarter of 2023.

Obsidian Energy Announces Strong First Quarter 2023 Results

Calgary, Alberta--(Newsfile Corp. - April 25, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we expect to release our first quarter 2023 financial and operational results before North American markets open on Thursday, May 4, 2023.

Obsidian Energy Announces Release Date of First Quarter 2023 Results

The Obsidian Energy debt level is still likely too high compared to free cash flow at various commodity price levels. Obsidian Energy is making slower (than other competitors) progress towards debt reduction.

Obsidian Energy Is Trying To Get To Easy Street

Calgary, Alberta--(Newsfile Corp. - March 27, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") confirms that the Alberta Energy Regulator ("AER") issued an order (the "Order") regarding the Company's 14-18-082-17W5 water disposal well (the "Water Disposal Well"), located approximately 40 kilometres Southeast of the Town of Peace River.

Obsidian Energy Comments on Alberta Energy Regulator Order Regarding Water Disposal Well

Calgary, Alberta--(Newsfile Corp. - March 22, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce an increase to our syndicated credit facility to $200.0 million from $175.0 million, with an extension of the revolving period to May 31, 2024, and the term-out date to May 31, 2025.

Obsidian Energy Announces Syndicated Credit Facility Increase to $200 Million

Calgary, Alberta--(Newsfile Corp. - March 6, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we will be participating in the 51st Annual Scotia Howard Weil Energy Conference on Wednesday, March 8, 2023, in Miami, Florida at the Mandarin Oriental Hotel.

Obsidian Energy Announces Participation in the Scotia Howard Weil Energy Conference

Calgary, Alberta--(Newsfile Corp. - February 23, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that it has filed with Canadian securities regulatory authorities its audited Consolidated Financial Statements for the year ended December 31, 2022, and related Management's Discussion and Analysis.

Obsidian Energy Confirms Filing of Its 2022 Year End Disclosure Documents

Board Appoints Stephen Loukas President and Chief Executive Officer Fourth quarter average production increased to 31,742 boe/d (20 percent increase from 2021) Funds flow from operations was $450.7 million in 2022 (107 percent increase from 2021) Net debt decreased to $316.8 million at December 31, 2022 (23 percent decrease from 2021) Normal Course Issuer Bid Approved by TSX Calgary, Alberta--(Newsfile Corp. - February 23, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to report strong operating and financial results for the fourth quarter and full year 2022.

Obsidian Energy Announces Fourth Quarter and Full Year 2022 Results

Calgary, Alberta--(Newsfile Corp. - February 23, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Obsidian Energy's notice of intention to commence a normal course issuer bid (the "NCIB").

Obsidian Energy Announces TSX Approval of Normal Course Issuer Bid

• 2023 capital expenditures includes development and exploration/appraisal programs with optionality for second half expansion • 46 well development program across all core areas in 2023 expected to generate seven percent growth in production over 2022 and significant free cash flow at WTI US$80/bbl• Board approves share buyback program for up

Obsidian Energy Announces 2023 Guidance and Significant 2022 Reserves Value Increase with Year-End Reserves Report

Calgary, Alberta--(Newsfile Corp. - January 18, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we expect to release our 2023 capital budget and associated guidance after North American markets close on Monday, January 30, 2023.

Obsidian Energy Announces Guidance and Reserves Release Date

Calgary, Alberta--(Newsfile Corp. - January 3, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that is has extended Stephen E. Loukas' employment contract as Interim President and CEO to December 31, 2023.

Obsidian Energy Announces Extension to Interim President and Chief Executive Officer

Obsidian Energy is a Canadian oil and gas producer with relatively attractive assets and a fast-reducing net debt. This makes the company attractive from a fundamental point of view: The PV10 calculation in the previous reserve report indicates the stock is too cheap.

Obsidian Energy: Trading At 0.5 Times NAV10 At $75 Oil (U.S.)

Obsidian is deferring its 2023 guidance and budget until January. Heavy oil differentials are factoring into its decision.

Obsidian Energy: Lower Heavy Oil Prices May Result In It Modifying Its 2023 Plans

• 2022 second half development program continues to perform with strong results in Willesden Green and Peace River• Recently drilled Seal Clearwater oil well on production • 2023 guidance and return of capital intentions to be announced in January 2023• Inaugural Environment,

Obsidian Energy Announces 2022 Operations Update, 2023 Guidance Update, and Inaugural ESG Report

Third quarter average production increased 24 percent to 29,985 boe/d from 2021 with current production over 33,000 boe/dContinued net debt reduction to $323.1 million from $428.1 million at September 30, 2021, including repayment of the $30.

Obsidian Energy Announces Third Quarter 2022 Results and Updated 2022 Guidance

Calgary, Alberta--(Newsfile Corp. - November 2, 2022) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we expect to release our third quarter 2022 financial and operational results before North American markets open on Tuesday, November 8, 2022. 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, on SEDAR at www.sedar.

Obsidian Energy Announces Release Date of Third Quarter 2022 Results

Calgary, Alberta--(Newsfile Corp. - October 19, 2022) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we will be participating in the Schachter Catch the Energy Conference (the "Conference"), which will take place on Saturday, October 22, 2022, at Calgary Mount Royal University, Ross Glen Hall, 4825 Mount Royal Gate SW, Calgary, Alberta. The Conference is being held between 7:30 a.m. MT and 5:00 p.

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