Obsidian disputes Alberta regulator's finding that company caused seismic events

Obsidian Energy

27/03/2023 17:38

March 27 (Reuters) - Obsidian Energy Ltd  OBE.TO  said
on Monday it does not agree with Alberta Energy Regulator's
(AER) conclusion that the Canadian oil and gas producer
triggered a series of earthquakes in Alberta between November
and March.
    Obsidian said it has requested data and analysis that AER
relied on when making its decision to issue an order to
establish seismic monitoring at the Water Disposal Well located
southeast of the Town of Peace River in Alberta.
    An investigation conducted by an AER branch concluded that
Obsidian's disposal operation induced the seismic events. The
regulator gave the company 15 days to implement its recommended
mitigation plan, among other steps.
    Obsidian said it intends to comply with AER's order, but
would engage independent third-party experts to help better
understand the regulator's reasoning. The company said it does
not anticipate any impact on production due to the order.

 (Reporting by Arshreet Singh; Editing by Shilpi Majumdar)
 ((Arshreet.Singh@thomsonreuters.com; Twitter: https://twitter.com/Arshreets;))