There may be a lot of good things and innovation happening lately in the world of energy, but one company or player in the industry that pushes for the limits of the industry is Obsidian Energy. Currently, the executives behind the workforce behind Obsidian Energy may look like bashful and complacent, but don’t let that veneer of modesty fail you. They’re all about simplicity, but that doesn’t mean that they’re not providing the best ways to deal with the problems that they’re tackling to answer.
About Obsidian Energy
Among the numerous problems in energy that confront Obsidian Energy, it is the wish of the company to meet with the needs of small and medium-scale business owners to get to the meat of the energy problems and answer them. They hope that the assets they are pushing for and recommending would pay off later, especially regarding profit and bettering the society that they have invested in.
The company vision of Obsidian Energy also mirrors the vision of someone who wants to push for the greater good. It wants to innovate for better fuel costs. It wants to create new ways to build projects that will help people to get the fuel reserves and needs that they want for their business projects. With Obsidian’s focus on relentless innovation and passion for discipline, it’s hard not to take seriously the potential of Obsidian Energy to provide great depth and empowerment for the market.
The company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).
The Management Team
Of course, a company may be just as good as the people behind them. The success of Obsidian Energy reflects the people handling it. As the President and CEO of Obsidian Energy, Mr. David L. French is making sure that the path of Obsidian is towards creating the best energy company today that has its headquarters and base in Calgary.
It is also the hope of the CEO that the company can affect a significant change in the publicly-traded gas and oil environment in the region near him. It is also important to state here that the potential of Obsidian Energy could be dictated by the previous experience of Mr. David. Fortunately, with his stint at Bankers Petroleum Ltd as its CEO, he can live up to the role and name. See This Page for additional information.
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Obsidian Energy is an intermediate-sized oil and gas producer formerly named Penn West Petroleum, Ltd. The company voted to change its name on June 26, 2017. Along with the name change came company restructuring. One major change was the reduction of its daily production. Today, Obsidian Energy produces 30,000 barrels of oil equivalent (BOE) daily.
Before the name change, they were producing up to 135,000 BOE daily in 2013. The company also employed 1415 people in its workforce. After the restructuring that number was reduced to 407. The company was further burdened with over $3 billion of debt. They have worked diligently to reduce the debt load and it is currently down to $384 million and still lowering. Refer to This Article for more information.
Today, Obsidian Energy‘s assets are more strategically placed. The company has three main sites in Canada. The Alberta Viking site is a wholly owned field that yields light oil and gas from short cycle wells, which contrasts with their Cardium drilling. The Alberta Viking production amounts to 1,766 BOE daily. The Cardium drilling uses waterfloods to increase reservoir pressure thus increasing the light-oil production. The production at Cardium equals 18,876 BOE daily. Peace River is a joint venture between Energy and China Investment Corporation and Obsidian Energy. Peace River is a large resource with years of production still to come. The daily crude oil production for Obsidian at Peace River is 4,823 BOE.
Obsidian Energy redefined their company to encourage share holder confidence. By becoming a lean and discipline operation, they have become more financially stable and are still a very profitable business. During their drilling, Obsidian Energy strives to preserve the environment. It is committed to minimizing the impact their operations have on the environment. By using established environmental programs, Obsidian tries to meet or exceed all environmental regulations and resource conservation. Encompassing every area of business, when a site is being abandoned Obsidian is always sure to use proper site abandonment and reclamation practices.
Obsidian Energy is a midsized energy corporation that provides natural gas and oil to Canada and throughout the world. This enterprise has been in business since 1979. They were formally known as Penn West Exploration Ltd. They changed their name to Obsidian Energy in 2017. Here is some information about this energy producer and all that it has to offer.
Obsidian Energy’s oil fields are located in Alberta, along the Western Canadian Sedimentary Basin. This region is one of the world’s largest petroleum reserves. Obsidian’s oil production comes from three key areas in Alberta: the Alberta Viking, the Pembina Cardium and the Peace River Oil Sands. Obsidian set up operations here as a means to tap into this natural fuel source. Now they help petroleum products to the U.S. and other nations in Europe.
The company uses updated procurement processes to extract various substances such as light oil and gas. These two substances are important fuel sources that powers structures and vehicles. It also helps to light cities, generate heat and to keep society connected.
The company made over $9 billion dollars as of 2017 and its profit margin continues to grow. This organization uses the best practices for fuel extraction. Obsidian uses environmentally friendly techniques to ensure that natural species and plant life is not being destroyed during the procurement process.
Obsidian Energy is a great company that works hard to bring high quality fuel products and services to their clients. The services they provide help industries, governments, businesses and society in general. Obsidian also provides great economic opportunity through their products. Remember that economies are dependent on fuel sources and not just segments of society that needs this resource to operate. Get More Information Here.
Plastics, asphalt, feedstocks and synthetic materials are all made from natural oil. Natural gas is also used for these types of applications as well. Many businesses rely directly (and indirectly) on natural fuel sources to stay afloat. This commodity is essential for growing the economy and for keeping transportation moving along.
Obsidian Energy, which was formerly known as Penn West Petroleum Ltd., is a well-known oil and natural gas producing company with a long history. The company is headquartered in Calgary, Alberta where its oil fields are also located. The company’s total gas and oil production is estimated to be about 30,000 boe per day. Recently, the company received notification from the New York Stock Exchange that it has regained compliance with its continued listing standard with regard to the price of its common stock. This is in response to an earlier notification about its price deficiency.
The NYSE usually sets the average closing price of a listed company’s common stock at no less than $1.00 per share over a 30-day trading period, and close at above $1.00 on the last trading day per share. This new state of affairs is indicative of a company that is regaining its robustness. The notification indicated that the company had cured its price condition and had fully regained compliance. Obsidian shares are also listed on the Toronto Stock Exchange under the symbol “OBE”.
The company has been transforming itself in the recent past by rebranding itself to Obsidian Energy. Obsidian management team has the intention of guiding the company based on three key principles. One of the principles that the Obsidian has adapted is the maintenance of a disciplined commercial and technical decision-making process aimed at building and protecting the company’s value. It also strives to relentlessly pursue innovation and progress, as well as being accountable and transparent with its shareholders, partners and the communities in which it operates.
This will set Obsidian Energy on the path of growth and development owing to the fact that it has stable assets, a healthy balance sheet, and the right hedging strategy. All these factors will help the company to set its own standards for performance. Besides changing its name, Obsidian Energy, its shareholders approved of all the resolutions that were set out in the Annual and Special General Meeting of 2017. With this new development, Obsidian Energy is well on course to increase its market viability and profitability.
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The Obsidian Energy is based in Calgary. The company has specialized in the processing of gas and oil. Peter French is the Chief Executive Officer of Obsidian Energy. Important matters in the company are resolved with the help of the shareholders. The company has been successful in executing their plan for five years. Several projects that had been set in place by the company have been fulfilled terming it the best decision. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.
The trading value of the company has attracted many individuals. The investors have been lured into the company through their lucrative deals. The community generally has been encouraged to undertake various activities in the companies enhancing unity. The Obsidian Energy has demonstrated exemplary performance compared to its peers.
The company has enacted strict measures that are meant to propel it to success. The cash that is spending within the company has been controlled so that it serves its required population. This plan is achievable as long as the operating costs are regulated. The plan that the company is executing has utilized the portfolio approach. This will enhance development in the region.
The assets available at the company are mature and this has stimulated growth in the company. The Obsidian has invested in the shorter life cycle where drilling is conducted, and higher returns are poised to be achieved by the company. The Cardium Wells have been advantageous to the company. These wells have generated an income of 70 percent.
The energy company has enhanced the aspect of water flooding. This is done in order to increase the production of the available wells. The process entails water being injected into the basin. The main aim is to enable recovery of the water through the pressure that is released by the Cardium. The process involves the minimal addition of the capex. Click Here For More Info.
The process involves the recovery procedures being met. The reserves of the company are also met when the recovery method is completed. The options have led to the improvement of oil and gas in the fields. The Obsidian Energy is projected to have a greater value in the coming years. Good management at the company has affected its recent success.