Obsidian Energy Announces 2024 Operations Update and Commencement of 2025 Drilling Program
Production and Growth Expectations: Obsidian Energy reported an estimated average production of approximately 37,450 boe/d for 2024, exceeding guidance and representing a 16% increase from 2023. The company is well-positioned to achieve a target of 50,000 boe/d by 2026, following successful drilling results in new areas.
Operational Updates and Management Changes: The company completed its 2024 capital program with all wells rig released as scheduled, while also announcing the appointment of Jay McGilvary as Vice President of Development to lead subsurface characterization and drilling operations moving forward.
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