Obsidian Energy Ltd.

03:09 PM EST - Obsidian Energy Ltd. : Released its year-end 2018 independent reserves evaluation and provide Company updates on our recent drilling results, marketing and hedging portfolio, 2019 development and guidance revisions. 2018 marks the second year in a row that Obsidian Energy has achieved greater than 100 percent reserve replacement on proved plus probable and total proved reserves. This increase is a direct result and recognition of the performance of our 2018 Cardium drilling program with a 1P and 2P reserve replacement in the Cardium of approximately 150% and 140% respectively. Our Cardium assets in Willesden Green continue to perform with 16 additional undeveloped locations added to our book's primary Cardium count. The Company also continues to see benefits from its optimization and decline mitigation projects with an average three-year proved developed producing decline of 15.8%. Obsidian Energy Ltd. shares T.OBE are trading up $0.07 at $0.51.