The prominent Canada based gas and oil producer, Penn West Petroleum, quite recently became Obsidian Energy. Last summer, a poll was taken of the company’s shareholders regarding the decision of renaming the company. This was the result of a number of new changes that were beginning to take place within the organization, which affected all areas of Penn West Petroleum’s business operations.
After these shareholders made the choice clear by voting 92 percent in favor of the company receiving a new name, Penn West Petroleum Ltd. officially began operating under the name of Obsidian Energy Ltd. on June 26th, 2017.
On average, Obsidian Energy churns out around 30,000 boe each and every day. Additionally, Obsidian Energy also controls one of the most impressive portfolios in the industry. Not only does this portfolio feature many top-quality assets, but it is also surprisingly well-balanced.
At the core of the Obsidian’s belief system are the values of accountability and discipline. Many companies only hold themselves accountable to their business partners and to their shareholders. Obsidian Energy, however, is also committed to serving the outside communities in which it does business.
After making several structural changes and receiving the new name, Obsidian Energy is a far stronger, leaner and more efficient organization than anyone would have expected in prior years. It will certainly not be easy to navigate through an industry that never ceases to evolve at a breakneck pace, the management team at Obsidian Energy is confident that a fierce entrepreneurial spirit and an undying passion fort the company’s work will propel the organization towards a bigger and brighter future. Find Related Information Here.
Modest growth has been announced as Obsidian Energy’s number one goals for the following three years. Under the strong leadership of former Calgary Oil and Gas Company CEO; David L. French, this goal is one that is very likely to be achieved.