Obsidian Energy Ltd. provided production guidance for the year 2024 and first quarter of 2025. For the year 2024, Company expects Production in the range of 35,250 boe/d to 36,750 boe/d. In 2024, production is expected to average approximately 36,000 boe/d (midpoint of guidance) - a 12% increase from 32,275 boe/d1 in 2023. Production is expected to grow consistently in the first half of 2024 and exit the second quarter over 36,000 boe/d as new wells come on stream. In the beginning of the second half of the year, production is expected to decline as development activity slows during spring break up, then increase to over 37,000 boe/d by year-end.

For the first quarter of 2025, Company expects production of approximately 40,000 boe/d.