Calgary, Alberta – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to provide an update on the status of temporarily shut-in operations due to the impact of recent Alberta wildfires.
The wildfire activity has largely decreased in the Pembina area at this time. As a result, the majority of our Pembina fields that remained shut-in due to evacuation orders or for precautionary measures were restarted on the morning of Wednesday, March 17th, restoring an additional 6,600 boe/d of production on top of the 2,500 boe/d previously brought online. Combined, Pembina now has approximately 9,100 boe/d of light oil-weighted production restored.
With changing weather conditions, the Harmon Valley South field in Peace River was once again taken offline as a precautionary measure. Approximately 5,500 boe/d of heavy oil in Peace River and approximately 1,900 boe/d of light oil weighted production in Pembina is shut-in for a total of 7,400 boe/d curtailed across the two areas due to wildfires. To our knowledge, there has been no damage to the Company’s key assets or infrastructure.
The Company will continue to closely monitor the situation as it evolves and provide an update when appropriate as the protection and safety of our people, local communities, and the environment are of the highest priority. With changing winds and weather conditions, we will continue to adjust our plans accordingly to protect our people and the communities and maintain as much business continuity as possible. We are relieved that most of our employees and their families that were affected by evacuation orders have been able to return safely to their homes, and thank our staff, industry partners and emergency responders for their ongoing and tireless work to protect our communities.