Obsidian Energy caused seismic events, shows Alberta regulator's investigation

Obsidian Energy

24/03/2023 11:25

** U.S.-listed shares of Canadian oil and gas producer
Obsidian Energy Ltd  OBE.TO   OBE.N  down 4% at $5.74 premarket
    ** Alberta energy regulator's investigation on a series of
earthquakes concluded that OBE's wastewater disposal induced
several seismic events in Alberta 
    ** The regulator gives the company 15 days to submit a
mitigation plan 
    ** On Thursday, a joint study by the Stanford University and
the University of Alberta concluded that one of the strongest
earthquakes in the region in November last year was caused by
wastewater disposal
    ** Up to last close, stock was down 9.9% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))