Obsidian Energy—Everything You Need to Know
January 28, 2018
Obsidian Energy, originally known as Penn West Petroleum Ltd, is a mid-sized producer of oil and gas that is headquartered in Calgary, Alberta, Canada. Founded in 1979, the company had 300 employees as of the end of 2017. It currently has oil and gas wells in Western Canada and a balanced portfolio comprising of high-value assets that enable it to produce about 30,000 BOE each day.
The assets and the organization crafted around them provide Obsidian Energy with a platform to provide bottom-line results that help it survive in an ever-changing industry. This is a company that is primarily focused on the passion for its work, discipline, and the resolute accountability of all its partners, the communities where it operates, and the shareholders.
The Change from Penn West Petroleum Ltd to Obsidian Energy
The company officially changed its name from Penn West Petroleum Ltd. to Obsidian Energy on June 26th, 2017. Prior to the formal change, the company underwent a series of changes that saw new measures introduced in all its operations. The changes touched on all departments and enabled it to redefine and position itself for future growth. After the transformation, it was able to become leaner, stronger, and more capable of achieving its objectives and meeting the expectations of all its shareholders and investors. Read This Article for related information.
Community and Environment
Since inception, Obsidian has always focused on making positive impacts in areas where it operates and improving its relations with the surrounding communities. Obsidian Energy supports the Community Matters Program whose sole objective is to ensure that the firm carries out its operations in a respectful and responsible manner. It also serves as a reminder to its contractors and personnel to ensure that they proactively address all concerns, mitigate impacts that are likely to be associated with its oil and gas operations, and ensure that it communicates in an open manner with all the area residents.
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