OBSIDIAN ENERGY LTD.
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
View on SEC.govAbout this filing
The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2024 · Filed Feb 25, 2025
Use the contents to explore the available documents and sections.
Contents
EX-99.2 · Netbacks
Netbacks
Netbacks decreased from Q4 2023 mainly due to lower commodity prices and higher transportation costs associated with higher Peace River production. This was partially offset by lower royalties per boe which decreased as a result of lower commodity prices.
WTI prices decreased in Q4 2024, settling at US$69.70 per barrel in December. Despite OPEC continuing to delay its output increase, WTI prices were impacted by economic uncertainty and the potential impact on demand. For Q4 2024, WTI averaged US$70.27 per barrel.
In Q4 2024, WCS differentials continued to be narrow following the completion of the TMX pipeline expansion. In Q4 2024, the WCS differential averaged US$12.54 per bbl while the MSW differential averaged US$2.42 per bbl.
In Alberta, AECO 5A prices for Q4 2024 averaged $1.48 per mcf, up from $0.69 per mcf in Q3 2024. Although AECO prices continued to be weak for Q4, prices did improve through the quarter with December AECO 5A settling at an average price of $1.87 per mcf in December with colder winter temperatures impacting demand.
| OBSIDIAN ENERGY 2024 | MANAGEMENT’S DISCUSSION AND ANALYSIS 19 |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.