Business
Obsidian Energy Announces Third Quarter Results with Continued Increasing Funds Flow from Operations
Successful drilling results to date in the second half 2021 drilling program Continued d...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"Obsidian Energy Announces Third Quarter Results with Continued Increasing Funds Flow from OperationsSuccessful drilling results to date in the second half 2021 drilling program Continued debt pay down and higher funds flow from operationsAcquisition of remaining Peace River Oil Partnership ownership subsequent to the quarterCalgary, Alberta--(Newsfile Corp. - November 8, 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 third quarter 2021.Three Months EndedSeptember 30Nine Months Ended September 302021202020212020 FINANCIAL (millions, except per share amounts)Cash flow from operations65.534.8135.868.3Basic per share ($/share)0.880.471.830.93Diluted per share ($/share)0.850.471.780.93Funds flow from operations159.330.4137.991.4Basic per share ($/share)10.790.411.861.25Diluted per share ($/share)10.770.411.811.25Net income (loss)46.6(3.2)392.3(771.9)Basic per share ($/share)0.62(0.04)5.28(10.55)Diluted per share ($/share)0.60(0.04)5.14(10.55)Capital expenditures 45.14.696.145.6Decommissioning expenditures1.60.65.48.8Net debt1428.1478.9428.1478.9    OPERATIONS    Daily Production    Light oil (bbl/d)10,31410,95210,38912,084Heavy oil (bbl/d)2,6882,8232,7122,811NGL (bbl/d)2,2132,2442,1442,254Natural gas (mmcf/d)54545353Total production2 (boe/d) 24,16425,03124,01725,995              Average sales price3    Light oil ($/bbl)84.2750.8476.3543.14Heavy oil ($/bbl)60.8729.5449.9419.99NGL ($/bbl)52.7922.1143.6418.73Natural gas ($/mcf)3.892.403.442.25             Netback1 ($/boe)     Sales price 56.2132.7450.1128.43Risk management gain (loss) (0.93)(0.42)(1.27)2.98 Net sales price 55.2832.3248.8431.41Royalties (5.99)(1.42)(4.56)(1.48)Net operating expenses1 (13.28)(11.36)(13.50)(10.65)Transportation (2.41)(2.13)(2.05)(2.01)Netback1 ($/boe)33.6017.4128.7317.27  (1) The terms funds flow from operations (\"FFO\") and their applicable per share amounts, \"net debt\", \"netback\" and \"net operating costs\" are non-GAAP measures. Please refer to the \"Non-GAAP...