Business
Obsidian Energy Announces Third Quarter 2022 Results and Updated 2022 Guidance
Third quarter average production increased 24 percent to 29,985 boe/d from 2021 with current...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Third Quarter 2022 Results and Updated 2022 GuidanceThird quarter average production increased 24 percent to 29,985 boe/d from 2021 with current production over 33,000 boe/dContinued net debt reduction to $323.1 million from $428.1 million at September 30, 2021, including repayment of the $30.0 million non-revolving term loan Peace River acquisition of additional 10 sections of land and Seal 9-15 gas plant, providing for additional Bluesky and Clearwater development2023 guidance and shareholder return of capital intentions to be announced in mid-DecemberCalgary, Alberta--(Newsfile Corp. - November 8, 2022) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") is pleased to report operating and financial results for the third quarter of 2022.Three months ended September 30Nine months ended September 30 2022202120222021 FINANCIAL1(millions, except per share amounts)Cash flow from operating activities121.465.5330.3136.1Basic per share ($/share)21.480.884.031.83Diluted per share ($/share)21.440.853.921.78Funds flow from operations3104.659.3340.2137.9Basic per share ($/share)41.270.794.161.86Diluted per share ($/share)41.240.774.041.81Adjusted Funds flow from operations3107.461.7365.5151.6Basic per share ($/share)41.310.824.462.04Diluted per share ($/share)41.270.804.341.99Net income40.746.6178.4392.3Basic per share ($/share)0.500.622.185.28Diluted per share ($/share)0.480.602.125.14Capital expenditures74.045.1217.796.1Decommissioning expenditures3.51.615.85.4Long-term debt253.7397.0253.7397.0Net debt3323.1428.1323.1428.1    OPERATIONS    Daily Production    Light oil (bbl/d)11,06210,31411,48010,389Heavy oil (bbl/d)5,8542,6885,9402,712NGL (bbl/d)2,3792,2132,4052,144Natural gas (mmcf/d)64546353 Total production5 (boe/d)29,98524,16430,32424,017  Average sales price 2,6Light oil ($/bbl)118.6684.27125.9976.35Heavy oil ($/bbl)81.7860.8791.1949.94NGL ($/bbl)69.1252.7973.3843.64Natural gas ($/mcf)5.313.895.903.44    Netback ($/boe)    Sales price76.5856.2183.6450.11Risk management loss(0.59)(0.93)(3.92)(1.27)Net sales price75.9955.2879.7248.84Royalties(14.06)(5.99)(13.71)(4.56)Net operating costs4(14.57)(13.28)(14.17)(13.50)Tr...