Obsidian Energy Posts C$18 Million Profit and C$0.26 Diluted EPS

Obsidian Energy Ltd. posted C$18 million in net income for the third quarter ended Sept. 30, 2026, with diluted earnings of C$0.26 per share, while two cash-flow measures each came to C$1.26 per diluted share.

The Calgary-based producer’s net income compared with C$16.8 million, or C$0.24 in diluted earnings per share, in the third quarter of 2025. All amounts are in Canadian dollars. Basic earnings were C$0.27 per share, compared with C$0.25 a year earlier.

The C$1.26 per diluted share figures applied to cash flow from operating activities and funds flow from operations; they were not earnings per share. Cash flow from operating activities totaled C$87 million, up from C$45.4 million a year earlier. Funds flow from operations, a non-GAAP measure, was C$86.7 million, compared with C$49.7 million.

Average production reached 28,113 barrels of oil equivalent per day, up from 27,316 a year earlier. Obsidian attributed its quarterly profit to production revenue, mainly from higher oil prices. President and CEO Stephen Loukas cited higher realized oil prices in discussing third-quarter funds flow of C$86.7 million and adjusted funds flow of C$80.7 million.

Obsidian expects average production to increase about 20% in 2027 from 2026, conditional on a constructive commodity-price environment. The company produces oil and natural gas primarily in Alberta. Its shares trade on the Toronto Stock Exchange and NYSE American under ticker OBE.