Obsidian Energy Ltd.

10:03 AM EST - Obsidian Energy Ltd. : Announced an operational update on its Cardium drilling program. After proving the viability of a quick cycle, light oil, primary production campaign in early 2018, we began a dedicated execution program starting in July 2018 and carrying through to break-up in March 2019. All 19 wells have now been completed and are on production. These wells continue to perform as expected, demonstrating the repeatability of our development style as we drill the first of several core Cardium areas. The average drill, complete, equip, and tie-in costs of all 19 wells came in at $3.8 million per well and without any safety or environmental incidents. Obsidian Energy Ltd. shares T.OBE are trading up $0.01 at $0.40.