Obsidian Energy is a Canadian oil and natural gas producer that averages 30,000 boe per day. The company also owns assets of high quality with a balanced portfolio to match. The company feels its assets, and its organizational oversight, are what allows them to continually deliver expected results. Obsidian Energy also lays claim to an entrepreneurial spirit that allows them to compete successfully in a competitive industry.
Obsidian Energy excels due to its commitment to shareholders, employees, and its passion to be on the cutting-edge of the oil and gas industry. The company offers a strong commitment to every partnership it forms. On June 26, 2017, Penn West changed its name to Obsidian Energy Ltd. The company went through a number of significant changes that would impact every imaginable aspect of how they conduct business. This led to what the company is today and set the pace for business directions it will take in the future.
Today, Obsidian Energy has holdings along the Western Canadian Sedimentary Basin in Alberta. This region is one of the largest petroleum reserves in the world. The company’s bulk of production comes from Peace River oil sands, Alberta Viking, and the Pembina Cardium reserves.
David French is the current CEO and President of Obsidian Energy. The changes brought about in 2017 have set the company up to perform well in 2018 and beyond. Obsidian’s costs are down, and they delivered a strong year of production growth. The company’s core values are accountability, relentlessness, and discipline. View More Information Here.
The oil and natural gas industry in Canada is active in 12 of 13 territories and provinces. Its use of services and goods from many of the country’s regions makes it a true national industry. Canada expects it natural gas and oil drilling activities to increase by five percent in 2018.