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Company News

BRIEF-Obsidian Energy reports FY 2017 production of 31,700 BOE/D

Jan 15 (Reuters) - Obsidian Energy Ltd:

* OBSIDIAN ENERGY ANNOUNCES FULL YEAR 2017 PRODUCTION ABOVE GUIDANCE & PROVIDES OPERATIONAL UPDATE

* FULL YEAR 2017 PRODUCTION WAS 31,700 BOE/D, ABOVE HIGH END OF GUIDANCE RANGE OF 30,500 - 31,500 BOE/D

* EXPERIENCED SOME UNEXPECTED PRODUCTION DOWNTIME IN DECEMBER DUE TO EXTREME COLD WEATHER IN LAST HALF OF MONTH

* Q4 2017 PRODUCTION WAS 31,400 BOE/D, WITH AN ESTIMATED LIQUIDS WEIGHTING OF 62%

* TO DATE IN JANUARY, CORPORATE PRODUCTION HAS AVERAGED OVER 32,000 BOE/D DESPITE CONTINUED COLD WEATHER RELATED DOWNTIME

* DECIDED TO ACCELERATE A PORTION OF 2018 CAPITAL PROGRAM INTO 2017

* SAYS ANY INCREMENTAL CAPITAL AVAILABLE IN SECOND HALF OF YEAR WILL LIKELY GO TOWARDS CARDIUM DEVELOPMENT Source text for Eikon: Further company coverage:

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