How Obsidian Energy Is Making It Big In The Oil And Gas Industry

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Obsidian Energy Ltd. is a Canadian company that produces natural gas and oil. The company is headquartered in Calgary, Alberta and was founded in 1979 as Penn West Production Ltd. It only recently changed its name to Obsidian Energy Ltd. after it was restructured following the 2014 drop in crude oil prices which greatly affected it. Many aspects of the company were changed during the restructuring and the company is now back on its feet.

 

At the helm of Obsidian Energy Ltd. is David French, who serves as the CEO and president of the company. Obsidian Energy’s main operations are in Alberta Viking, the Peace River oil sands and Pembina Cardium. Its portfolio of assets is well diversified and is expected to produce 31,000 bbl. per day. Obsidian Energy is listed on the New York Stock Exchange and the Toronto Stock Exchange.

 

Obsidian Energy is known for its high standards of operation, which is what sets the company apart from the rest. They have a program known as Community Matters through which they strive to ensure they coexist peacefully with the people in the areas in which they operate. They address their concerns and carry out their operations with the community in mind. Thus, they do not do anything that will have a negative impact on the community.

 

Obsidian also cares about the environment. Many companies in the oil and gas industry are known to be reckless with the way they handle their products and waste, yet petroleum is a serious environmental pollutant, but not so with Obsidian. The company strives to minimize its carbon footprint through careful disposal of waste and handling of petroleum products. It abides by all environmental laws and even go beyond the bare minimum. See This Page to Learn More about the company.

 

Conclusion

 

Obsidian Energy is clearly committed to the highest standards of excellence. It is very transparent in the way it does business as is evident from the numerous financial reports available on its website. It is also committed to the highest safety standards to ensure the safety of its employees as well as the public. Obsidian Energy is expected to perform even better than ever before.

 

Additional: http://www.marketwatch.com/investing/stock/obe