Obsidian Energy Ltd
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in mil. unless spec.Company Description
- CEO
- Stephen Elias Loukas
- Full Time Employees
- 148
- Sector
- Energy minerals
- Industry
- Oil & gas production
- Address
- 207 – 9th Avenue SW Calgary AB Canada T2P 1K3
- IPO Date
- Aug 1, 1980
- Website
- obsidianenergy.com
- Similar Companies
- Business
- Obsidian Energy Ltd. is an intermediate-sized Canadian oil and gas producer engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids primarily within the Western Canadian Sedimentary Basin, focusing on the Peace River, Willesden Green (Cardium and Belly River), and Viking areas. The company's product portfolio includes a range of crude oils—primarily light and medium grades—natural gas, natural gas liquids such as propane, butane, and condensate, supported by extensive upstream operations encompassing geological surveys, drilling, reservoir management, and production services as well as infrastructure for transportation and processing. Obsidian Energy operates its assets chiefly in Alberta, Canada, serving North American energy markets. Founded as Penn West Petroleum Ltd. in 1979, it rebranded to Obsidian Energy Ltd. in 2017 to reflect a strategic focus on core assets and operational optimization. Recent major developments for Obsidian Energy include a successful 2024 capital program that surpassed production guidance with an average production of approximately 37,450 barrels of oil equivalent per day, reflecting a 16 percent increase over 2023, driven by heavy oil asset development and new well production in Peace River areas such as Peavine and Gift Lake. The company reported significant reserve increases in 2024 across all categories, with a reserve replacement rate exceeding production, and expanding drilling locations in Peace River. A share repurchase program has been active, retiring around six percent of shares outstanding in 2024. Into 2025, operational enhancements continue with water injection pilots at Bluesky and Clearwater formations, commencement of drilling a Belly River well in Willesden Green, and plans to grow production to 50,000 boe/d by 2026. The company has also refined its financial position by reducing net debt and generating increased funds flow from operations. Its portfolio expansion includes new locations in the Clearwater and Bluesky formations to support ongoing growth at Peace River. Obsidian Energy’s business segments include upstream crude oil and natural gas production with a focus on low-risk drilling inventories and a balanced mix of heavy and light oil assets alongside natural gas liquids. Its services cover exploration, production management, reservoir optimization, regulatory compliance, environmental stewardship, and marketing operations. The strategic emphasis is on operational excellence within its core Canadian assets to maximize returns and ensure financial resilience amid market fluctuations. The company is headquartered in Calgary, Alberta, and is publicly traded on the Toronto Stock Exchange and the NYSE American under the ticker symbol OBE.
Company News
Obsidian Energy (NYSEAMERICAN:OBE) Shares Gap Down – Time to Sell?
Obsidian Energy Provides an Operational and Guidance Update
Insider Selling: Obsidian Energy (TSE:OBE) Director Sells C$684,204.00 in Stock
Obsidian Energy: I Still See Plenty Of Upside From Here
Obsidian Energy (TSE:OBE) Director Acquires C$645,390.00 in Stock
Obsidian Energy Announces Closing of $75 Million Add-On to Our Senior Unsecured Notes
Obsidian Energy Announces $75 million Add-On to our Existing Senior Unsecured Notes
Obsidian Energy: Peace River Growth And New Acquisition To Drive Value
Obsidian Energy Closes Belly River Acquisition and Increases 2026 Production Guidance
Obsidian Energy: One Of The Cheapest Oil Producers
Obsidian Energy: Moving To Take Advantage Of Higher Selling Prices
Obsidian Energy Increases Syndicated Credit Facility
AI Innovator Priya Lakhani OBE to Join the Mainstage at Blackbaud's bbcon 2026 Social Impact Tech Conference
Obsidian Energy Announces Strategic Belly River Acquisition
Obsidian Energy Increases 2026 Capital Program, Targeting 15% Production Growth in 2027
Obsidian Energy Announces Voting Results from the 2026 Annual and Special Meeting of Shareholders
Obsidian Energy Announces First Quarter 2026 Results
Obsidian Energy Ltd (OBE) Shares Fall 3.4% -- What GF Score of 46 Tells Investors
Obsidian Energy Ltd (OBE) Shares Surge 5.9% -- What GF Score of 46 Tells Investors
Obsidian Energy (NYSEAMERICAN:OBE) Hits New 1-Year High – Still a Buy?