January 16, 2018 / 2:54 AM / 8 months ago

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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