Obsidian to reinitiate Cardium development drilling in December

Obsidian Energy Ltd. has increased its 2020 capital program by $3.2 million to $56 million (Can.) to reinitiate its light oil Cardium development program with plans to begin drilling activity on the first pad within its Central Alberta Willesden Green asset.

While the company expects to finalize the size and scope of its first-half 2021 development program over the coming weeks, it will begin drilling on a three well pad in early December.

The asset produced 20,661 boe/d as of third-quarter 2020.