Obsidian Energy Ltd. provided an operational update on its second half 2025 capital program, reporting that initial results from its drilling activities are above internal expectations. The company achieved a record seven-day production average in its Peace River asset of approximately 14,500 boe/d, demonstrating strong operational performance.
A significant milestone was the commencement of water injection on pilots in both the Bluesky and Clearwater formations at Peace River. This marks a crucial step in implementing enhanced oil recovery techniques, which are expected to increase reservoir recovery and reduce decline rates in these key heavy oil assets.
The positive drilling results and the advancement of waterflood projects underscore Obsidian Energy's continued focus on maximizing value from its Peace River asset. These operational successes contribute to the company's strategy of disciplined growth and per-share value creation.
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