Obsidian Energy Reports Strong Willesden Green Results, More Wells Coming Online in April
According to a Newsfile Corp. report via BOE Report, Obsidian Energy (TSX/NYSE American: OBE) released a Q1 2026 operational update on April 13 showing strong drilling results in both its Willesden Green and Peace River assets, with additional wells set to come online mid-month.
Drilling Activity and Results
Obsidian’s Willesden Green program is producing results. The company’s 11-28 two-well Belly River pad in Open Creek recently hit over 1,000 boe/d, with IP120 rates trending higher than IP30 rates as the wells stabilize. Cardium wells drilled in late 2025 and brought online in February have exceeded internal expectations. Three additional Willesden Green wells are expected on production in mid-April.
In Peace River, Obsidian rig-released 11 wells during Q1 2026, including five Clearwater producers, four Clearwater injection wells, and two Bluesky wells across its Nampa, Harmon Valley South, Cadotte, and West Dawson fields. One rig remains active on the Dawson 5-13 Clearwater pad waterflood project through spring break-up. The company also commissioned the Dawson waterflood pilot and rig-released injector wells at both Nampa and West Dawson, with injection expected in Q2.
President and CEO Stephen Loukas noted the company is evaluating a potential capital program expansion in the second half of 2026, supported by expanded oil hedging at prices above its US$60 WTI budget average.
What It Means for Subcontractors
- Completion and stimulation crews should expect near-term call-outs in the Willesden Green area as three wells approach production tie-in in mid-April.
- Waterflood service providers have active work in Peace River through Q2, with injection infrastructure coming online at Nampa and West Dawson, and the Dawson integrated waterflood project continuing through spring break-up.
- Drilling contractors and rig crews should monitor Obsidian’s H2 2026 capital program announcements closely. A confirmed expansion could mean additional rig demand in both Peace River and Willesden Green later this year.
- Pipeline and surface facility contractors should note the consolidated working interest Obsidian obtained in Open Creek during 2025. The company has flagged future growth in the area, which typically drives surface infrastructure buildout.
- Spring break-up planning matters here. With one rig still running through break-up conditions in Peace River, service companies operating in that area need equipment rated for seasonal access restrictions.
