Obsidian Energy Ltd. announced a new production record for its Peace River asset, reaching 14,000 boe/d during the first half of 2025. All 30 (28.4 net) wells in the first half program were rig released by the end of May, with all development wells now on production, demonstrating strong operational execution.
The company reported solid production results from its development program, particularly in the Harmon Valley South (HVS) and Dawson fields. For instance, two wells on the HVS 13-08 Pad delivered 30-day initial production (IP) rates of 440 boe/d and 350 boe/d (99 percent oil), respectively. A well on the HVS 14-07 Pad produced at a 22-day IP rate of 568 boe/d (100 percent oil).
Obsidian Energy also successfully completed drilling all five wells in its first Peace River Clearwater waterflood pilot on the Dawson 4-24 Pad. The first two producer wells on this pilot achieved 30-day IP rates of 329 boe/d and 342 boe/d (100 percent oil), with the remaining three wells also showing strong initial results. This pilot project is expected to provide opportunities for broader implementation of enhanced oil recovery techniques across Peace River assets.
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