Obsidian Energy Ltd traded at 11.75 this Tuesday April 9th, increasing 0.39 or 3.43 percent since the previous trading session. Looking back, over the last four weeks, Obsidian Energy gained 21.89 percent. Over the last 12 months, its price rose by 26.62 percent. Looking ahead, we forecast Obsidian Energy Ltd to be priced at 11.47 by the end of this quarter and at 10.65 in one year, according to Trading Economics global macro models projections and analysts expectations.
Obsidian Energy Ltd, formerly Penn West Petroleum Ltd, is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. The Alberta Viking area offers a mix of light-oil and gas with high-netback shorter cycle wells to complement longer cycle activities in the Cardium. The Cardium is concentrated on the low-decline and high-netback light-oil production. The Company is focused on an integrated waterflood approach in which it maintain reservoir pressure from the start of production to reduce decline rates on new wells. The Peace River operates in a crude oil resource industry.