Business
Obsidian Energy Announces Second Quarter 2023 Results
Generated funds flow from operations of $87.4 million during the quarter, resulting in free cash ...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Second Quarter 2023 ResultsGenerated funds flow from operations of $87.4 million during the quarter, resulting in free cash flow of $43.0 millionAchieved robust production results from 11 new wells drilled on the western side of our Viking play, reaching an average daily peak rate per well of 293 boe/d for the program Enhanced liquidity with a $40.0 million increase to our syndicated credit facility, providing us additional financial flexibility Commenced return of capital to shareholders via the repurchase of 2.2 million shares through our buyback program to date Calgary, Alberta--(Newsfile Corp. - August 2, 2023) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to report solid operating and financial results for the second quarter of 2023. Three months endedJune 30Six months ended June 302023202220232022 FINANCIAL1            (millions, except per share amounts)             Cash flow from operating activities67.1125.0139.7208.9Basic per share ($/share)20.821.521.712.55Diluted per share ($/share)20.791.481.652.48Funds flow from operations387.4157.0181.7235.6Basic per share ($/share)41.071.912.222.89Diluted per share ($/share)41.031.862.142.80Net income 18.4113.948.9137.7Basic per share ($/share)0.221.390.601.69Diluted per share ($/share)0.221.350.581.64Capital expenditures 39.540.3146.6143.7Decommissioning expenditures4.93.813.612.3Long-term debt275.2334.6275.2334.6Net debt3324.3343.0324.3343.0    OPERATIONS    Daily Production    Light oil (bbl/d)12,51212,26112,66011,689Heavy oil (bbl/d)5,3566,1745,7975,982NGL (bbl/d)2,4322,4062,5542,419Natural gas (mmcf/d)64646662 Total production5 (boe/d) 31,04231,57532,09230,497              Average sales price2,6    Light oil ($/bbl)96.92139.8899.23129.49Heavy oil ($/bbl) 61.63106.1852.7195.88NGL ($/bbl) 50.4582.9355.1075.51Natural gas ($/mcf) 2.567.383.336.21 Netback ($/boe) Sales price58.9796.4459.9587.15Risk management gain (loss) 1.94(4.66)1.40(5.58)Net sales price60.9191.7861.3581.57Royalties ...