By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the forward-looking statements contained herein will not be correct, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. With respect to forward-looking statements contained in this document, the Company has made assumptions regarding, among other things: our ability to restart production that there has been no damage to key assets and infrastructure that we are able to monitor the situation by getting accurate and timely information our ability to execute our plans as described herein and in our other disclosure documents and the impact that the successful execution of such plans will have on our Company and our stakeholders our ability to execute our capital programs as planned without significant adverse impacts from various factors beyond our control, including extreme weather events, such as wildfires and flooding, infrastructure access and delays in obtaining regulatory approvals and third party consents our ability to conduct an investigation to better understand the situation and our ability to obtain equipment and staffing in a timely manner to carry out plans and the costs thereof.Īlthough the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: that we will continue to monitor the situation and provide an update when appropriate and that we will continue to adjust our plans accordingly to protect our people and the communities and maintain as much business continuity as possible. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "budget", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "objective", "aim", "potential", "target" and similar words suggesting future events or future performance. To our knowledge, there has been no damage to the Company's key assets or infrastructure.Ĭertain statements contained in this document constitute forward-looking statements or information (collectively " forward-looking statements") within the meaning of the "safe harbour" provisions of applicable securities legislation. Approximately 5,500 boe/d of heavy oil in Peace River and approximately 1,900 boe/d of light oil weighted production in Pembina is shut-in for a total of 7,400 boe/d curtailed across the two areas due to wildfires. With changing weather conditions, the Harmon Valley South field in Peace River was once again taken offline as a precautionary measure. Combined, Pembina now has approximately 9,100 boe/d of light oil-weighted production restored. As a result, the majority of our Pembina fields that remained shut-in due to evacuation orders or for precautionary measures were restarted on the morning of Wednesday, March 17 th, restoring an additional 6,600 boe/d of production on top of the 2,500 boe/d previously brought online. The wildfire activity has largely decreased in the Pembina area at this time. OBE OBE (" Obsidian Energy", the " Company", " we", " us" or " our") is pleased to provide an update on the status of temporarily shut-in operations due to the impact of recent Alberta wildfires.
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