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OBE - Obsidian Energy: A Look At Potential 2020 Results
Obsidian Energy Ltd.
Obsidian Energy's (OBE) operational results look decent, but it is facing significant challenges with its leverage being higher than ideal and its credit facility maturing late in 2020. Pengrowth Energy's (PGHEF) recent sale shows the potential results of a maturing credit facility combined with a lack of access to alternative capital.
That being said, Obsidian's leverage is lower than Pengrowth's and asset sales should leave more value for Obsidian's shares.
2020 Outlook
Obsidian's Q3 2019 production declined to 25,505 BOEPD, but its new Cardium wells should boost production in Q4 2019.