Category Archives

2 Articles

Posted by Tommy LeDeux on

Obsidian Energy Is Looking To Expand and Continues To Lead The Oil And Gas Industry With Its Safety Standards

Obsidian Energy, formerly known as Penn West Petroleum Ltd., is a mid-sized Canadian gas and oil producer, located in Calgary, Alberta, that produces around 30,000 boe every day. Since its re-branding efforts to cement itself as Obsidian Energy, the company has become leaner and looks to expand. By encouraging a culture of entrepreneurship and accountability, Obsidian expects to become more and more successful as the years roll on.

 

The management team at Obsidian Energy includes David L. French who is the President and Chief Executive Officer, David Hendry; the Chief Financial Officer, Tony Berthele; the Vice President of Development & Operations, Andrew Sweerts; the Vice President of Production and Technical Services, and Mark Hodgson; the Vice President of, Business Development & Commercial. Combined, their leadership team has over a hundred years of experience in the energy and gas and oil industry. Obsidian’s Board of Directors includes George H. Brookman; the Acting Chairman in Calgary; Alberta, John Brydson; the Director in Greenwich; Connecticut, Raymond D. Crossley; the Director in Calgary; Alberta, and quite a few other notable names.

 

Community and the environment matter to Obsidian Energy, and the company is committed to impacting the communities where it operates in a positive way. To support their passion to do so the company has put together the Community Matters Program, which represents a solid commitment to respect the communities it works in. The program is helpful in the way it reminds the company’s workforce as well as its contractors about the importance of paying attention to the concerns of the community and encouraging open communication with locals who want to know more about what the company is doing. Obsidian Energy even has a toll-free number as well as email where community members can get answers to their concerns or questions.

 

Obsidian Energy also focuses on the health and safety of its employees and the communities it operates in. By working on improving safety standards and raising awareness, the company is constantly updating how it operates and the ways that it prevents any serious accidents from happening. Part of the safety measures that Obsidian takes includes ensuring that its employees report any injuries or incidents, that they comply with safety practices, that the management checks-in and makes sure that audits are taking place, and that any jurisdictional regulations are followed. Visit This Page for more information about the company.

 

View Source: https://beta.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/penn-west-shareholders-approve-name-change-to-obsidian-energy/article35463586/?ref=http://www.theglobeandmail.com&

Posted by Tommy LeDeux on

How Obsidian Energy Achieved Success

Obsidian Energy is the current name of the company which used to be known as Penn West Energy Trust and later Penn West Petroleum Limited. It is a company which produces oil and natural gas and it is based in Alberta, Canada. Over the past years, the company was flourishing and hitting major market capitalization of nearly 9.5$ Billion.

 

However, the institution has its area of production which are the Pembina Cardium, Peace River oil sands and Alberta Viking. Penn West Petroleum changed its name to Obsidian Energy on 26 June this year due to certain irregularities over the past three years.

 

During the end of 2013, the net assets of Penn West Petroleum were at $3 Billion and as per this year, the net assets had dropped tremendously to $380 million. When it comes to production, the same case applied as it used to produce 135000 barrels per day and this year, it produces 28000 barrels per day.

 

The employees three years ago were 1415 but due to the company deteriorating it consists of 407 employees at the current year. Penn West Petroleum Limited changed its name due to the inconveniences on accounting and debt crisis in the firm. There is also another issue that caused the downfall of the firm which was the price of the products in the market which dropped.

 

Shareholders of Obsidian are urged to cope with the changes since it has new resolutions and amendments to make in the industry. Obsidian symbol was denoted in the stock exchange markets as “OBE”. This was because it was earlier denoted according to the Penn West Petroleum Limited. Obsidian Energy came up with certain principles in which it will enable the company to grow and never back to its earlier position of the breakdown. See This Page to learn more about the company.

 

They include a disciplined technical and commercial decision making, persistent progress and innovation and lastly accountable and transparent energies with their shareholders. It is committed to resolve the accountability with its shareholders, partners and societies so as to expand economically. Obsidian Energy is working to progress and build its name with a great reputation in future.

 

More On: https://en.wikipedia.org/wiki/Obsidian_Energy