Obsidian Energy cuts FY capex outlook, flags volatility in broader oil and gas markets

sasacvetkovic33/E+ via Getty Images Obsidian Energy ( NYSE: OBE ) late on Monday revised its capital expenditure outlook downwards by approximately $15 million, reallocating a portion of light oil spending towards incremental share buybacks, citing market uncertainty. The company has, meanwhile, increased its 2024 production guidance range to 37,000 to 37,400.