Corporate Overview Market Summary Ticker Symbol OBE Peace River 4,449 boe/d Q1 2019 Shares Outstanding MM 510 Market Value MM 148 Net Debt MM 497 Enterprise Value MM 645 Deep Basin 1,501 boe/d Q1 2019 Corporate Summary…
Obsidian Energys Strategic Priorities Execute Focus the Operationally Company Spend within cash flow on Divest non-core assets and horizontal primary development reduce operating costs in the Cardium 1 Lower G&A through Target…
Execute Operationally Phase 1 Crimson 2018/2019 Development Program Summary 19 Well Program Results Crimson Lake - 19 Well Program After pilot program in early 2018, Phase 1, fast cycle R8W5 INDEX MAP horizontal light oil primary…
Execute Operationally Phase 2 Crimson 2019/2020 Development Program Crimson Lake 2019 13 Well Program R8W5 INDEX MAP Phase 2 primary development from July 2019-March 2020. Opportunity to grow development activity 30% by drilling 25…
Focus the Company - Transformational Disposition: Peace River Oil Partnership PROP Transaction Highlights R25 R15 R10W5 Furthers the transformation into a pure play Nampa Cardium focused company Cadotte T85 Reduces overall…
Focus the Company - Expense Costs Opex/boe: Q1 2019 Opex/boe Target Highlights 25.00 19.00 18.56 Higher than average operating costs Expense reduction 18.00 due to historical waterflood properties initiative reduces total 20.00…
How Do We Improve Operating Costs Strategic Steps to Reduce Operating Costs Sale of Peace River reduces overall operating cost per boe Shut-in of negative cash flow properties in 2018 and early 2019, reduces property tax and…
Decommissioning Liability Improvement Commentary Decommissioning Liability Overview Decommissioning liability is the estimated liability for future abandonment obligations on the Companys wells, facilities and pipelines Obsidian…
Focus the Company - Balancing the Capital Structure Commentary RBL details Current Structure CAD 550MM total borrowing base, less pari Facility CAD 458MM of total outstanding debt as of March 31, 2019, passu senior notes (CAD 460MM…
Improve Shareholder Value Transformational Proceeds Options for Asset Disposition Proceeds or Cash Flow Increase Cardium Pay Down Debt Share Buyback Development Benefits Pay Down Debt Paying down debt will reduce leverage,…
Obsidian Energys Strategic Priorities Execute Focus the Operationally Company Spend within cash flow on Divest non-core assets and horizontal primary development reduce operating costs in the Cardium 1 Lower G&A through Target…
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