Obsidian begins first-half 2021 Cardium drilling program

Obsidian Energy Ltd., Calgary, expects to drill seven wells in first-half 2021 furthering the company's Cardium development activity within its Central Alberta Willesden Green asset. Depending on commodity prices and weather conditions, an eighth well could be added to the program. Most of the wells will be adjacent to or very near the company’s 2020 Cardium program wells.

The company expects $35 million in capital expenditures plus $5 million in decommissioning expenditures for first-half 2021, with production of 23,000-23,400 boe/d.

Obsidian began its first-half 2021 program in December and has rig-released the first two wells on the 4-35 Cardium pad in Crimson Lake, adjacent to the 1-27 and 12-26 pads drilled in 2020 (OGJ Online, Nov. 30, 2020). One drilling rig is being utilized to deliver the seven-well program, the company said.

While all seven wells are expected to be drilled prior to spring break up, current guidance assumes that only five wells are brought on stream in first-half 2021 with the remaining two wells scheduled to be completed as weather and ground conditions allow.