Business
Obsidian Energy Announces Second Quarter 2024 Results
Grew year-over-year average daily production by 15 percent to 35,773 boe/d Increased funds fl...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\nObsidian Energy Announces Second Quarter 2024 ResultsGrew year-over-year average daily production by 15 percent to 35,773 boe/d Increased funds flow from operations by 41 percent on a per share basis to $115.2 million ($1.51 per share) Completed first half capital program with 34 (33.4 net) operated wells rig released and 33 (32.4 net) wells brought on productionCompleted the Peace River Clearwater acquisition, expanding our land base to 680 net sections with the addition of 148 net sections and production of 1,700 boe/d Calgary, Alberta--(Newsfile Corp. - August 1, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to report strong operating and financial results for the second quarter of 2024.  Three months endedJune 30Six months endedJune 30 2024202320242023 FINANCIAL1                 (millions, except per share amounts)Cash flow from operating activities77.967.1136.6139.7Basic per share ($/share)21.020.821.781.71Diluted per share ($/share)20.980.791.711.65Funds flow from operations3115.287.4199.6181.7Basic per share ($/share)41.511.072.602.22Diluted per share ($/share)41.441.032.502.14Net income 37.118.449.048.9Basic per share ($/share)0.480.220.640.60Diluted per share ($/share)0.460.220.610.58Capital expenditures 59.239.5173.5146.6Property acquisitions, net84.90.184.90.1Decommissioning expenditures4.04.914.113.6Long-term debt376.9275.2376.9275.2Net debt3432.5324.3432.5324.3     OPERATIONS    Daily Production    Light oil (bbl/d)13,78212,51213,43012,660Heavy oil (bbl/d)7,0265,3566,8875,797NGL (bbl/d)3,1932,4322,9892,554Natural gas (mmcf/d)71647066 Total production5 (boe/d) 35,77331,04235,00632,092               Average sales price2,6    Light oil ($/bbl)107.6196.92101.3899.23Heavy oil ($/bbl) 79.7361.6370.2652.71NGLs ($/bbl) 48.9250.4549.6255.10Natural gas ($/mcf) 1.332.561.853.33              Netback ($/boe)     Sales price64.1158.9760.6759.95Risk management gain 1.201.941.221.40 Net sales price65....