Obsidian Energy is a notable producer of both oil and gas that is based in Canada. Impressively, Obsidian Energy’s daily production average is just about 30,000 boe per day. When compared to other gas and oil producers in Canada, Obsidian Energy’s portfolio is significantly more balanced and versatile, which also being inclusive of a number of great quality assets.
Back in the summer of 2017, the company was undergoing some massive adjustments. These adjustments prompted the organization to recruit its shareholders for an important vote, which would eventually result in the changing of the company’s name. Before this vote, in which 92 percent of the company’s shareholders voted for a new brand name, the organization was conducting its business operations under its original name, Penn West Petroleum Ltd.
After Penn West Petroleum Ltd. finally became Obsidian Energy Ltd. in June 2017, the brand’s CEO, David L. French, announced that he was seeking to pursue modest growth for the company during the course of the next three years.
After the aforementioned changes took place within Obsidian Energy’s organization, Obsidian is now operating at a stronger, more capable and more efficient point than it ever has in its history. The management team at Obsidian Energy is convinced that a relentless entrepreneurial spirit and a willingness to constantly adapt will ensure Obsidian’s future success within the energy industry. This will be no small feat, as the energy industry is one of the most quickly changing industries in the modern era, and it shows no signs of slowing down any time soon.
Accountability is at the heart of Obsidian Energy‘s core principles. The management team, however, isn’t just committed to being accountable to its shareholders. Obsidian Energy’s management team also prides itself on remaining wholly accountable to other groups and individuals, such as the other companies it works with and the regional communities that it has facilities in. Read This Article for more information.