Obsidian Energy is the name of an established gasoline and oil production company that’s headquartered in Canada. It’s a company that’s of medium-size. It used to be called Penn West Energy Trust, Penn West Petroleum and Penn West Exploration Ltd. It was created in Calgary, Alberta all the way back at the end of the seventies. It’s been around since 1979 and has been known as Obsidian Energy since the summer of 2017. Obsidian Energy runs gasoline and oil fields in Alberta. It has these fields by the Western Canadian Sedimentary Basin. This is a place that is home to petroleum reserves that are among the biggest on the planet.
The team at Obsidian Energy creates approximately 30,000 BOE (Barrel Oil Equivalent) on a daily basis. This firm is an example of one that has a strong commitment to various values. These values include enthusiasm, responsibility and hard work. Obsidian Energy is a company that does whatever it can to benefit the large world that surrounds it day in and day out.
Obsidian is equipped with a management team that displays fine leadership skills and abilities all of the time. David L. French is Obsidian Energy’s skilled CEO (Chief Executive Officer) and President. Other big people who are on the staff are CFO (Chief Financial Officer) David Hendry, Development and Operations Vice President Tony Berthelet, Commercial and Business Development Vice President Mark Hodson and, last but definitely not least, Technical Services and Production Vice President Andrew Sweerts. Obsidian Energy has the cooperation of a devoted Board of Directors as well. The firm’s tireless board members include Chairman George H. Brookman, Director Raymond D. Crossley and Director Jay W. Thornton. There are numerous other capable and dependable directors working for the Obsidian Energy team, too. See This Article for related information.
People who wish to learn more about Obsidian Energy can visit the company’s official website at any time. The Obsidian Energy staff regularly posts detailed updates and announcements that can keep people in the loop. They talk about expansion, employee interviews, operation locations, upcoming specialties and much more. The firm’s updates are comprehensive and informative, too.
One of the major players in the production of natural gas as well as oil in the country is Obsidian Energy. Formerly Penn West Petroleum Ltd., the company has developed massive interest in exploring, developing and exploiting petroleum and natural gas fields. Obsidian Energy continues to be one of the most relied producers of petroleum in the country by raising its production from 30,500 to 31,500 boe/d. The ability of the company to conduct research on their fields of exploration and methods of production enabled it to raise its production significantly.
Recently, Obsidian Energy was able to reduce its capital spending by $20 million in response to the prevailing condition in the market. However, despite the fact that it reduced its capital spending, the company has been able to maintain its high level of production. Obsidian Energy has been relying on the high rate of production experienced last winter resulting from the drilling programs. Moreover, its strong outlook in the second phase of the drilling program, which has enabled it to maintain its productivity at a high level, is also a key player in its high productivity. Visit This Page to read more about the company.
The company has undergone numerous transformations throughout its operations. It was first named as Penn West Petroleum before changing its name to Obsidian Energy. The rebranding was part of the transformation that was meant at boosting the reputation of the firm in the market and in capital markets. Today, the company holds a very reasonable proportion of portfolio with industry positions in Alberta Vikings area, Peace River and Cardium.
Over the years, the Obsidian Energy has managed to improve its debt conditions by reducing it significantly. Its current position is the best it has ever been. Branding of its product has enabled the firm to compete favorably in the market. The level of competition in this industry is very high, and for a firm to be able to venture and operate, it must be producing quality products. This justifies why Obsidian Energy has been able to establish itself as one of the leading producers of natural gas as well as petroleum products in the country. The company has continued to record great results.
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