![]() ![]() This increase is driven primarily by the development of our Peace River assets, which are expected to increase from 6,600 boe/d to 24,000 boe/d. “With enhanced knowledge and understanding of the area and its formations, we have unveiled a three-year plan with expected production growth reaching 50,000 boe/d in mid-2026. “Following the acquisition of the remaining working interest at our Peace River asset in late 2021, we have successfully completed several initiatives to access its value, including rebuilding and expanding our Peace River team,” said Stephen Loukas, President and CEO. ( TSX: OBE) (NYSE American: OBE) (“ Obsidian Energy“, the “ Company“, “ we“, “ us” or “ our“) is pleased to announce our three-year corporate plan, focused primarily on growth from the Peace River asset, as well as a $40 million increase to our 2023 capital program. – September 21, 2023) – OBSIDIAN ENERGY LTD. 2023 capital budget increased to $300 million with recent increase in oil pricesĬalgary, Alberta–(Newsfile Corp.Plan generates $291 million of free cash flow from 2024 to 2026 at US$75.00/bbl WTI.Peace River area production growth to 24,000 boe/d in 2026 from current rate of 6,600 boe/d, resulting in a nine percent increase in our total liquids weighting to 76 percent.Peace River assets drive corporate production growth to 50,000 boe/d in 2026, while maintaining 25 percent flat annual corporate decline rate.
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