Business
Obsidian Energy Announces Increased Production and Financial Results in Second Quarter 2022
Strong second quarter average production of 31,575 boe/d, an increase of 28 percent over 202...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Increased Production and Financial Results in Second Quarter 2022Strong second quarter average production of 31,575 boe/d, an increase of 28 percent over 2021Rig-released 11 wells (11 net) and brought 16 wells (15.7 net) on production in the quarterSecond quarter funds flow from operations was $157.0 millionCalgary, Alberta--(Newsfile Corp. - July 28, 2022) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to report operating and financial results for the second quarter of 2022.Three Months EndedJune 30Six Months EndedJune 302022202120222021 FINANCIAL1            (millions, except per share amounts)Cash flow from operating activities125.042.2208.970.6Basic per share ($/share)21.520.572.550.96Diluted per share ($/share)21.480.552.480.92Funds flow from operations3157.042.3235.678.6Basic per share ($/share)41.910.572.891.06Diluted per share ($/share)41.860.552.801.04Adjusted Funds flow from operations3156.851.2258.189.9Basic per share ($/share)41.910.693.161.21Diluted per share ($/share)41.850.673.071.19Net income113.9322.5137.7345.7Basic per share ($/share)1.394.331.694.67Diluted per share ($/share)1.354.231.644.57Capital expenditures 40.321.5143.751.0Decommissioning expenditures3.80.512.33.8Long-term debt334.6424.1334.6424.1Net debt3343.0435.7343.0435.7    OPERATIONS    Daily Production    Light oil (bbl/d)12,26110,83611,68910,427Heavy oil (bbl/d)6,1742,6605,9822,723NGL (bbl/d)2,4062,1622,4192,108Natural gas (mmcf/d)64546252 Total production5 (boe/d) 31,57524,65130,49723,942              Average sales price 2,6    Light oil ($/bbl)139.8876.97129.4972.37Heavy oil ($/bbl) 106.1848.5895.8844.46NGL ($/bbl) 82.9339.3175.5138.77Natural gas ($/mcf) 7.383.216.213.21             Netback ($/boe)     Sales price96.4449.5687.1546.98Risk management loss(4.66)(0.52)(5.58)(1.44)Net sales price91.7849.0481.5745.54Royalties (15.53)(4.90)(13.53)(3.83)Net operating costs4 (14.02)(13.71)(13.98)(13.62)Transportation (3.29)(1.95)(3.04)(1.87)Netba...