The Rise Of Obsidian Energy Limited

Obsidian energy limited is a Canadian company that deals with natural gas and oil production. It has its base in Calgary, Alberta. It was formerly known as Penn West Investments which had three companies; Penn West Exploration, Penn West Petroleum, and Penn West energy trust. It changed its name from to obsidian energy on 26 June 2017. It is a public company headed by David L French as the CEO.

 

 

During the difficulties that rocked the oil industry in 2014, the company had to make some tough choices. It had to metamorphose into a leaner, more agile and functional organization. It had to restructure among is investments and how it conducted business to remain profitable. The move bore fruits for three years down the line; it was able to clear off debt and carry on with its operations as usual.

 

 

Being one of the biggest companies to list in the Toronto stock exchange it features in the top sixty enterprises in Canada. The company boasts of a capital base of about 9.5 billion dollars in assets and other investments around the world. It also is listed on the New York stock exchange. It has about three hundred employees. Visit This Page for more info on the company.

 

 

Obsidian Energy prides itself on service delivery and the entrepreneurial drive that has helped them wade through this constant evolving swamp of the oil industry. It had managed to keep the business running since 1979 when it was formed and started its operations throughout Western Canada.

 

 

Obsidian has oil and gas fields in the Alberta, located along the Western Canadian sedimentary basin, one of the regions known to have some of the most significant deposits of petroleum. Its main production areas are the Pembina Cardium, peace river oil and the Alberta Viking. It has its production totaling to about 31,000 billion barrels in a day.

 

 

Obsidian Energy has also involved in charitable events and donations that help in furthering the humanity and even in the environmental course. It has also been fulfilling its pledge to the community through its community service within its localities such as providing facilities like schools and hospitals.

 

Visit: https://www.bloomberg.com/quote/OBE:CN