OBE - Obsidian Energy: Limited Free Cash Flow Expected In 2024 As It Grows Production

2024-03-06 17:55:32 ET

Summary

• Obsidian Energy Ltd. is attempting to grow production by 12% in 2024.
• Obsidian's 2024 free cash flow is projected at US$35 million at current strip.
• The relatively limited free cash flow is largely due to spending on production growth.
• Production has been tracking a bit above expectations year-to-date.

Obsidian Energy Ltd. ( OBE ) is projected to generate US$35 million in 2024 free cash flow at current strip prices. This relatively modest amount of projected free cash flow is due to Obsidian spending to grow production. It is aiming for approximately 12% production growth in 2024, and recently mentioned that its year-to-date production had been tracking a bit above expectations....

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