08:25 AM EDT, 07/10/2025 (MT Newswires) -- Obsidian Energy ( OBE ) said Thursday that it is planning between $110 and $120 million in capital expenditures in H2, down 33% compared with H1 and a year earlier.

The company said production will be at 27,700 barrels of oil equivalent per day (boe/d) in H2, which is roughly flat to H1 output, and will build to 29,000 boe/d by the end of the year.

Obsidian said H2 guidance is based on commodity prices of $65/bbl WTI, $3.50/bbl MSW differential, $11.50/bbl WCS differential, and $2.50/GJ AECO natural gas.

The company said it plans to launch a $10 million share exchange offer, allowing shareholders in Canada to trade their Obsidian shares for stock in InPlay Oil.

Shares of Obsidian were up more than 2% in recent Thursday premarket activity.