The oil and gas market is booming in various parts of Canada. Many people do not realize how much oil Canada produces each year. With new technology options for oil drilling companies, the oil fields below sea level are much more accessible.
Obsidian Energy is one of the leading oil companies in Canada. Over the past few years, the company has increased both sales and profits. The leaders of Obsidian Energy want to focus on technological development. Unlike other oil companies, Obsidian Energy focuses on developing new alternative energy options for customers. There is a significant need for new energy sources in Canada. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.
Obsidian Energy almost went out of business many years ago. The company was deeply in debt, and oil prices were dropping rapidly. The leaders of the company decided to sell various assets to pay down debt. Although this was a tough decision, it was the only option that made financial sense.
The process of extracting oil is terrible for the environment. The government of Canada has challenged oil companies to invest both time and money to improve the local environment. Obsidian Energy spends a considerable percentage of profits on new energy technology. Many people in Canada want to invest in solar energy. As the price of solar panels continues to decrease, this is an excellent opportunity for people to save money on monthly electricity costs. See This Article to learn more.
Future Growth Plans
In the coming years, Obsidian Energy is expected to expand. Not only does the company have a strong balance sheet, but there are numerous new oil fields to explore. Some people believe that Obsidian Energy could become the largest oil drilling company in Canada.
With all of the opportunities in the oil industry, now is an excellent time for Obsidian Energy to increase sales and profits.
Related Article: https://www.bloomberg.com/quote/OBE:CN
Obsidian Energy, in their own words, “is a medium-sized producer” of petroleum products such as oil and gas. Until recently Obsidian Energy was known under the business operating name of Penn-West. However, to know Penn-West is not to know Obsidian Energy because the name change was not prompted by a change of ownership. It was a necessary rebranding of the company to represent better what those who now work as Obsidian aim to do, and better reflect the culture and attitude of the company.
Obsidian Energy most admirably has many aims to become the top rate company that it’s highly-qualified board of directors and management team envision it. They strive to be conscious about their impact on the environment, seeking the goal of far exceeding safety guidelines and environmental impact regulations, showing a uniquely human understanding of the devastating impacts of poorly managed industry sites, like petroleum products can have when not managed under proper consideration. This worldview is becoming increasingly important in today’s world.
Obsidian Energy is also committed to fairness, integrity, and mindfulness throughout the whole of its business operations. From interactions with employees on a day to day level, to mining ethics, to business reporting and everything in between. Obsidian is truly committing to be a company committed to excellence in everything they do and everything that is touched by their operations. They currently operate within Canada, they hope to grow their current operations with a focus on improving production levels.
As for the future of Obsidian Energy, it is quite a bright future. As a company, the path they follow is uniquely their own as they continue with their optimism and commitment to the environment, their people, and the production of an exceptional product. With their new start just starting just about halfway through the prior year, they’ve made great strides to continue their forward momentum into 2018. They’ve dealt adeptly with those challenges that have surfaced in the tides of change and have remained solidly on course. As we move into the new year Obsidian Energy’s future remains bright in 2018. Go Here for related Information.
Fuel companies come in all different types and sizes, which can make it difficult to find one that offers great products at even better prices. This is why a lot of people are choosing the Canada-based company known as Obsidian Energy. Obsidian Energy has been in the business for well over a decade, and they have truly changed the game for fuel companies everywhere. The reason for this is because they offer better products without charging an arm and a leg for everything. If you would like to make use of their fuels, you can contact Obsidian Energy and have them deliver it to your area.
The great thing about Obsidian Energy is that they deliver their fuel products all over the world. They offer both gas and oil products, which are essential for a good majority of customers no matter where they happen to be living. Plus, all of the products through Obsidian Energy go through strict quality assurance testing. This means that you are going to be getting great products at even more affordable pricing without needing to worry that you are spending a small fortune on what it is that you are going to need for yourself or your company. Go To This Page for more information.
If you are able to save money on fuel by ordering through Obsidian Energy, this is going to allow you to keep costs low for your own business. This is essential for when you need and want to make the most out of your company and know that what you’re doing will help to bring in even more clients for yourself. Never before has there been a company like Obsidian that you can trust with any and all of your fuel oil needs. Now, you can order the fuel that you require through Obsidian Energy and know that you are not being overcharged for the products that you need. This is the reason a lot of people have chosen to do business through Obsidian Energy and have found it to be a great option for themselves because of all of the work that is being done. 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).
Obsidian Energy is a Canadian natural gas and oil production corporation located in Alberta. Since its establishment, the oil company has augmented sophisticated strategies to sustain it in the market. At some point, Obsidian Energy was ranked among the S&PTSX 60 enterprises in the Toronto Stock Exchange. In 2008, Obsidian Energy experienced success when it hit its peak market capitalization of almost $9.5 billion. The achievements of the company are attributed to its locality. Obsidian Energy’s niche, Alberta, is a renowned region recognized for its reservation of the globe’s hugest petroleum sites. Production of oil originates from three primary areas including the Peace River oil, Alberta Viking, and Pembina Cardium.
Previously, Obsidian Energy was known as Penn West Petroleum Ltd. According to David French, the change of name would mark new beginnings for the organization. However, before the incorporation of the new name, certain procedures have to be adhered to including the approval of shareholders. Fortunately, 92 percent of the shareholders voted in favor of the altering of the company’s name. In David French’s opinion, Obsidian is best suited for the organization’s title due to its meaning. He postulates that the name aligns with the activities of the company. The changes implemented in Obsidian Energy will over time yield positive results thus retaining the enterprise’s reputation in its segment. Additionally, Obsidian Energy is expected to settle its debts and maximize its production which currently stands at the production of approximately 28,000 barrels of oil daily. See This Page for more information about the company.
Being a famous company in the market, Obsidian Energy partnered with other relevant organizations including the Canadian Royalty Trust. CANROY provided security for Obsidian Energy in the payment of taxes. Additionally, Obsidian Energy collaborated with Penn West investments. due to the high payment of dividends, the organizations recorded high returns. At the moment, the company’s operations are directed towards yielding more returns than the previous years. Obsidian Energy’s executives have demonstrated the relevance of persistence in managing mid-sized organizations. Additionally, the change of strategy is necessary for the attaining of future achievements. Obsidian Energy’s exclusivity illustrates the managers’ intent to attend to the evolving needs of its clients in the industry.
View Source: https://www.obsidianenergy.com/
It is an organization that has changed names several times. Obsidian Energy was previously known as Penn West Petroleum, Penn West Energy Trust, and Penn West Exploration Ltd. The oil and gas firm is a middle-sized company based in Calgary, Alberta, Canada. Toronto Stock Exchange had listed Obsidian which then was known as Penn West Trust as the six largest company in their stock exchange market between 2005 and 2008. In 2014 the company was not doing well in the gas and energy industries, and it underwent a financial crisis which forced the management to sell their asset in order to settle some of the debts the oil and gas group had.
Penn West Petroleum Ltd changed its name to Obsidian Energy in June 2017. Obsidian Energy is allocated in an area with high-quality gas and oil that has been producing about 30,000 bores per day. The firm is situated in a region which is considered to be one of the largest and the richest in oil and gas in Canada; along the West Canadian sedimentary basin. The oil, as well as the gas, is extracted from three major basins which include; Alberta Viking, Peace River Oil sands, and Pembina Cardium. The change of name comes with new responsibility for the management team for they trust that the asset available for the organization will of great help for the group and the asset help them expand their company and survive in the ever-changing industry.
Obsidian Energy does not only extract oil and gas, but it is also responsible for the communities around them. The oil and gas company has been carrying out their operations with a lot of respect for the people and the respect has been extended to their contractors, and staff who also know that they are supposed to openly communicate with the society before undertaking any new operation. Obsidian is responsible for communicating to the people about negative and even positive impact of their operation to the community as well as the environment. Obsidian Energy is founded on respect, responsibility, discipline, love for their work, and are accountable to their shareholders, community, as well as their partners.
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Read More: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy