Business
Obsidian Energy Announces First Quarter 2025 Results
Closed $320 million divestiture of Pembina assets on April 7, 2025, with cash proceeds used to re...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces First Quarter 2025 ResultsClosed $320 million divestiture of Pembina assets on April 7, 2025, with cash proceeds used to reduce debt levelCompleted first quarter program with 26 (24.4 net) operated wells rig released and 19 (17.9 net) operated wells brought on productionResponded to the market environment by reducing our first half capital program to $165 - $170 million from $185 - $195 millionCommenced drilling waterflood injector pilot at the Dawson 4-24 PadCalgary, Alberta--(Newsfile Corp. - May 7, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to report our operating and financial results for the first quarter of 2025. Three months endedMarch 31 20252024 FINANCIAL1       (millions, except per share amounts) Cash flow from operating activities96.758.7      Basic per share ($/share)21.320.76      Diluted per share ($/share)21.270.73 Funds flow from operations3100.184.4      Basic per share ($/share)41.361.09      Diluted per share ($/share)41.311.05 Net income15.411.9      Basic per share ($/share)0.210.15      Diluted per share ($/share)0.200.15 Capital expenditures 128.4114.3 Decommissioning expenditures6.610.1 Long-term debt350.4277.6 Net debt3459.9386.3  OPERATIONS Daily Production      Light oil (bbl/d)12,72713,079      Heavy oil (bbl/d)10,8876,748      NGL (bbl/d)3,0722,783      Natural gas (mmcf/d)7070 Total production5 (boe/d) 38,41634,238 Average sales price2,6      Light oil ($/bbl)99.4694.82      Heavy oil ($/bbl) 70.1460.39      NGLs ($/bbl) 53.4950.43      Natural gas ($/mcf) 2.182.38  Netback ($/boe)        Sales price61.1157.07     Risk management gain 0.781.24     Net sales price61.8958.31     Royalties (8.22)(7.05)     Net operating cos...