Obsidian Energy Ltd. (OBE)
After hours:
- Reuters
UPDATE 1-Canadian First Nation sends notice of opposition to Obsidian Energy drilling plans
A Canadian First Nation on Wednesday said it has told the Alberta Energy Regulator that oil and gas producer Obsidian Energy cannot proceed with plans to expanded drilling on its territory due to concerns about earthquakes. The Woodland Cree First Nation in northern Alberta criticized Obsidian earlier this week for failing to address the Indigenous community's concerns about a series of earthquakes that regulators found were caused by the company's wastewater disposal. Calgary-based Obsidian produces roughly 31,000 barrels of oil equivalent per day (boepd).
- Reuters
Canadian First Nation urges Obsidian Energy to address quake concerns
An Indigenous community in Alberta on Monday criticized Obsidian Energy for failing to address ongoing concerns about its operations after regulators said the Canadian oil and gas producer was responsible for a series of earthquakes. The quakes, including one with a local magnitude of 5.6, took place over nearly four months in the territory of the Woodland Cree First Nation in northern Alberta between November 2022 and March 2023. In March the Alberta Energy Regulator (AER) found that Obsidian caused the series of seismic events by disposing of industrial wastewater underground, and gave the company 15 days to produce a mitigation plan.
- Insider Monkey
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