CALGARY, Nov. 8, 2018 /CNW/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“ Obsidian Energy “, the “ Company “, “ we “, “ us ” or “ our “) is pleased to announce its financial and operational results for the three and nine months ended September 30, 2018. All figures are in Canadian dollars unless otherwise stated. David French, President and CEO commented, “The third quarter results are a combination of excitement over the initial results from the second half of 2018 (“ 2H18 “) development program, set against the backdrop of lower than expected base performance from the first half of 2018 (“ 1H18 “) Pembina and Mannville programs and a challenging outlook for light and heavy oil differentials. We expect full year 2018 production to be slightly below our guidance range due to the continued higher water cuts of our early 2018 injector development in PCU #9, lower than anticipated volumes from our 1H18 Mannville well, and deliberate choices on fourth quarter production due to recent differentials. This is partially offset by ahead of schedule delivery of our 15 well 2H18 Cardium development. The success of the seven well 1H18 Willesden Green drilling […]
