Feb 11 (Reuters) - Obsidian Energy Ltd OBE.TO :
* OBSIDIAN ENERGY RELEASES 2018 RESERVES RESULTS, ANNOUNCES COMPANY UPDATE AND REVISES 2019 GUIDANCE
* OBSIDIAN ENERGY LTD - ALL 14 WELLS OF SECOND HALF 2018 CARDIUM PROGRAM HAVE BEEN DRILLED AND COMPLETED WITH 12 CURRENTLY ON PRODUCTION
* OBSIDIAN ENERGY - FOCUS ON COST REDUCTION RESULTED IN AVERAGE WELL COST OF $3.6 MILLION ON FIRST 14 WELLS, SIGNIFICANTLY BELOW FORECASTED COST ESTIMATES
* OBSIDIAN ENERGY LTD - EXPECTS Q1 2019 LIGHT AND HEAVY OIL PRODUCTION TO BE APPROXIMATELY 15,750 - 16,250 BARRELS PER DAY NET TO OBSIDIAN ENERGY
* OBSIDIAN ENERGY LTD - OBSIDIAN ENERGY HAS ELECTED TO DEFER A FOUR-WELL PAD WITH TWO CARDIUM WELLS AND TWO DEEP BASIN WELLS TO SECOND HALF OF 2019
* OBSIDIAN ENERGY LTD - DEFERRAL WILL REDUCE FIRST HALF 2019 CAPITAL EXPENDITURES BY APPROXIMATELY $20 MILLION TO $45 MILLION
* OBSIDIAN ENERGY LTD - TOTAL PRODUCTION FOR Q1, INCLUDING NATURAL GAS LIQUIDS AND NATURAL GAS IS EXPECTED TO BE ABOUT 27,000 - 27,500 BOE PER DAY
* OBSIDIAN ENERGY LTD - SEES 2019 PRODUCTION 26,750 TO 27,750 BOE PER DAY