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Obsidian Energy Announces Fourth Quarter and Full Year 2020 Results and Provides Full Year 2021 Guidance
Strong 2020 operational performance drives improved cost metrics and debt reduction Robu...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Fourth Quarter and Full Year 2020 Results and Provides Full Year 2021 GuidanceStrong 2020 operational performance drives improved cost metrics and debt reduction Robust well results to date from first half 2021 development program 2021 capital budget set at $127 million with decommissioning budget of $8 million Calgary, Alberta--(Newsfile Corp. - March 29, 2021) - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to report strong operating and financial results for the fourth quarter and full year 2020.Three months ended December 31Year ended December 31 2020  2019  2020  2019 FINANCIAL1(millions, except per share amounts) Cash flow from operations11.149.579.476.8Basic and diluted per share 0.150.681.081.05Funds flow from operations226.454.2117.8159.1Basic and diluted per share 20.360.741.612.18Net income (loss)0.2(543.2)(771.7)(788.3)Basic and diluted ($/share)0.01(7.44)(10.53)(10.82)Capital expenditures 11.634.657.2103.2Decommissioning expenditures2.36.411.114.4Net debt2467.8494.2467.8494.2    OPERATIONS    Daily Production    Light oil (bbls/d)10,05512,24611,57411,966Heavy oil (bbls/d)2,8953,7182,8323,965NGL (bbls/d)2,0872,0952,2122,153Natural gas (mmcf/d) 52  52  53  53 Total production3 (boe/d)  23,64426,63925,40426,901              Average sales price4    Light oil ($/bbl)50.7670.5744.8168.99Heavy oil ($/bbl)30.0041.8022.5638.82NGL ($/bbl)24.6131.4220.1320.77Natural gas ($/mcf)2.812.552.391.79             Netback2 ($/boe)     Sales price 33.5745.6729.6341.60Risk management gain (loss)  (0.14) 0.66  2.25  (0.66)Net sales price 33.4346.3331.8840.94Royalties (1.42)(3.79)(1.47)(3.11)Net operating expenses2 (12.77)(12.75)(11.15)(13.42)Transportation  (1.60) (2.56) (1.91) (2.76)Netback2 ($/boe) 17.64  27.23  17.35  21.65 (1) Effective June 5, 2019, the Company consolidated its common shares based on seven old common shares outst...