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Obsidian Energy ( (TSE:OBE) ) has provided an update.
Obsidian Energy announced a significant increase in its reserves across all categories for 2024, with reserve replacement rates far exceeding production levels. The company’s focused development strategy, including the acquisition of Peace River Clearwater lands, has resulted in increased reserve values and new drilling locations, positioning it for further growth and enhanced shareholder value.
More about Obsidian Energy
Obsidian Energy Ltd. operates in the oil and gas industry, focusing primarily on heavy and light oil production. The company is active in the Peace River area, where it is expanding its reserves and production capabilities.
YTD Price Performance: -13.71%
Average Trading Volume: 423,907
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $385.5M
Find detailed analytics on OBE stock on TipRanks’ Stock Analysis page.
