Obsidian EnergyNYSE American: OBE

Calgary, Alberta--(Newsfile Corp. - June 26, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce it has closed its previously announced acquisition of approximately 1,700 boe/d (100 percent oil, based on April 2024 actual production) of Clearwater production and 148 net sections of land in the Peace River area (the "Acquisition") from a third-party (the "Vendor").

Obsidian (OBE) resumes production after resolving its dispute with Woodland Cree First Nation. The two parties have entered into an equitable agreement that is fair and beneficial to both.

Canada's Woodland Cree First Nation said on Tuesday it has ended its dispute with oil and gas producer Obsidian Energy to expand drilling operations on its traditional territory.

Obsidian's development program is going well, and it has recently averaged over 35,500 BOEPD in production despite 4,500 BOEPD in shut-in production. It also made a US$55 million Peace River acquisition that further adds to its inventory and production. A blockade by the Woodland Cree First Nation is resulting in the shut-in production.

Substantially completed active first half development program with 32 (31.4 net) operated wells rig released and 30 (29.4 net) operated development wells brought on production to date Robust results from our Peace River Dawson Clearwater development area are encouraging with 1,330 boe/d production (100 percent oil) over the last 30 days Pembina Cardium Unit #9 ("PCU#9") 6-08 Pad wells onstream with a gross average 30-day initial production rate of 403 boe/d (81 percent oil) per well Calgary, Alberta--(Newsfile Corp. - May 28, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an operational update on our first half 2024 capital program, largely completing the program across our Peace River and Willesden Green/Pembina (Cardium) assets.

The Woodland Cree First Nation of Canada has turned down a proposal from Obsidian Energy to increase drilling activities on its ancestral land, according to a statement released by the Indigenous community on Monday.

Obsidian Energy Ltd. is attempting to grow production by 12% in 2024. Obsidian's 2024 free cash flow is projected at US$35 million at current strip. The relatively limited free cash flow is largely due to spending on production growth.

A Canadian First Nation on Wednesday said it has told the Alberta Energy Regulator that oil and gas producer Obsidian Energy cannot proceed with plans to expanded drilling on its territory due to concerns about earthquakes.

Calgary, Alberta--(Newsfile Corp. - January 22, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that we expect to release our 2024 capital and operating budget and associated guidance (the "Release") before North American markets open on January 25, 2024.