Obsidian Energy Is On The Move

In the oil and gas field, it is a very competitive ball game. There are big name players, and there are small ones too. Since there are so many, they all compete for the same thing, the clients that they so desperately want to make their company a huge success.

 

One company that is carving out a great space for themselves is Obsidian Energy. Obsidian Energy was formerly called Penn West Petroleum Ltd. They are based in Calgary, Alberta. Alberta is in the western Canadian territory. Although they are based in Calgary, they have oil wells all through western Canada.

 

This company has a passion for what they are doing. Obsidian Energy want to show this to their communities in which they do business. It is also their wish to make sure that they are accountable to their shareholders. It is important that they retain the assets that they do have and add to them. With great determination, they strive towards even greater success with each and every passing day.

 

Since the company has changed names, it has also changed the way that it operates. It is now about discipline and making things work. They are interested in proving that Obsidian can make a difference and be a key player in a tough field.

 

The company employs quite a few employees that are dedicated to their work. They are experienced experts at what they do, and they intend to make a huge difference in the field. Since they are treated properly and compensated well, they look forward to a great career with the company. Refer to This Article for additional information.

 

Obsidian Energy is in the Canadian Stock Exchange. They hold one of the 60 top spots. They intend to climb even higher as they proceed into the future. The goal is to get better every year and acquire more and more customers as they go.

More On: https://www.bloomberg.com/quote/OBE:CN

Transformations in the Obsidian Energy

Obsidian Energy is an intermediate-sized oil and gas producer. It has a well-balanced portfolio comprising of high-quality assets. It is based in Western Canada.

 

 

Obsidian Energy which was formerly Penn West Petroleum, has decided to embrace some changes in its company. The change of name has been after all shareholders agreeing and approving it and the CEO says that the company is totally different from the old Penn West.

 

 

The CEO chose the name Obsidian because it is a natural volcanic glass underground that can be easily sharpened and honed. This would be more fitting than the former name Penn West. It has also decided to change its stock symbol to OBE which will appear on Toronto Exchange and New York Stock Exchange.

 

 

The company will be guided by three overriding principles. They include technical and commercial decision-making as well as discipline. Its shareholders are expected to embrace innovation, accountability, and transparency in order to attain their goals and protect their value.

 

 

According to David French, who is the president and chief Executive officer of the company Obsidian Energy is ready to set proper standards in all environments. Given their hedging strategy that is perfect, right assets, and the healthy balance sheet, they will undoubtedly achieve this.

 

 

There was also an approval on the resolutions of the company. This was done on April 30, 2017, during the Annual and Special Meeting and Management Proxy Circular. It also approved to appoint an auditor, elect new directors, to amend the restricted share Unit Plan and reduction of share capital for accounting purposes.

 

 

In their forward-looking statement, Obsidian Energy has decided to maintain their material producing the property. There will be a greater improvement in their energy produced given the commitment of the shareholders ad their value for the customers.

 

 

Obsidian plans to actively pursue growth in the next few years and cut down on their budget to conform to the prices of oil and gas. There is a tremendous increase in asset sales so as to scale up its revenue and increase profitability.

 

 

The changes in the Obsidian Energy are good and ought to be embraced for the benefit of the company and customers. See This Page for related information.