Obsidian Energy Ltd. OBE

Competitive advantage analysis · energy

Corporate Default
Overall moat score
34/100
Developing

Ranked against 92 peers in Oil & Gas E&P

About Obsidian Energy Ltd.

Obsidian Energy Ltd. engages in the exploration, development, and production of oil and natural gas in Western Canada. Its portfolio of properties includes unitized and non-unitized light oil, heavy oil, and natural gas production. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered … Full OBE analysis →

Key risks

  • ROIC Below WACC or Peers ROIC at 33.3th percentile suggests inefficient capital deployment.
  • Elevated Debt Risk Debt serviceability is weak (score 0.23), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
35
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where OBE ranks in Oil & Gas E&P

Obsidian Energy Ltd. ranks #65 of 93 scored companies in Oil & Gas E&P by moat score — the top 70%. The widest moat in the group is Texas Pacific Land Corporation (TPL) at 84/100.

# Company Moat score Rating
61 Greenfire Resources Ltd. GFR 40/100 Developing
62 Granite Ridge Resources, Inc. GRNT 40/100 Developing
63 Diamondback Energy, Inc. FANG 40/100 Developing
64 Chord Energy Corporation CHRD 39/100 Developing
65 Obsidian Energy Ltd. OBE 34/100 Developing
66 Pedevco Corp. PED 33/100 Developing
67 Gran Tierra Energy Inc. GTE 32/100 Developing
68 Talos Energy, Inc. TALO 31/100 Developing
69 VAALCO Energy, Inc. EGY 30/100 Developing

See every Commodities & Mining company ranked by moat score →

How OBE scores on the Corporate Default defenses

Pricing Power

Score 34 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 51 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 39 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 25 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 22 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 33 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding OBE's moat

What is Obsidian Energy Ltd.'s moat score?

Obsidian Energy Ltd. (OBE) scores 34 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #65 of 93 scored companies in Oil & Gas E&P, the top 70%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 92 companies in Oil & Gas E&P. Its strongest defense is Cost Advantage (51/100) and its weakest is Resilience (22/100).

How does Obsidian Energy Ltd. compare with other Oil & Gas E&P companies?

Obsidian Energy Ltd. ranks #65 of 93 scored companies in Oil & Gas E&P by moat score. The widest moat in Oil & Gas E&P is Texas Pacific Land Corporation (TPL) at 84/100. The companies ranked closest are Chord Energy Corporation (CHRD) at 39 just above it and Pedevco Corp. (PED) at 33 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 92 companies in Oil & Gas E&P. The defenses are then weighted to produce the overall score out of 100.

Why is Obsidian Energy Ltd. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Obsidian Energy Ltd.?

The Corporate Default template measures 6 defenses, and OBE scores: Pricing Power (34), Cost Advantage (51), Customer Stickiness (39), Capital Efficiency (25), Resilience (22), Scale & Market Position (33). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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