OBELF - Obsidian Energy sees H1 production 23K-23.4K boe/day

Obsidian Energy ([[OBELF]] +75.1%) shares soar to the highest in nearly a year after the company issues H1 2021 guidance including C$40M in capital spending and decommissioning, with production of 23K-23.4K boe/day.The company says it plans to further Cardium development activity in Willesden Green with a seven well drilling program that builds on the 2020 program, with the potential to expand H1 drilling program to eight wells assuming continued supportive commodity prices and weather conditions."Our 2020 drilling program resulted in some of the best wells we’ve seen in the history of our Cardium program," says Obsidian interim CEO Stephen Loukas.Obsidian recently lowered the minimum tender condition to 50% of Bonterra Energy's outstanding shares, hoping to improve the chance of success for Bonterra shareholders to support the proposed takeover.

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Obsidian Energy sees H1 production 23K-23.4K boe/day