The Grown Obsidian Energy

The production of oil and gas in Canada is an immense industry. This industry is not only important to the country but also North America. The country has the third largest oil reserves in the world has seen many players join in the trade. Among the companies joining in is the Obsidian Energy.

 

Formerly known as Penn West Petroleum Limited, Obsidian Energy Limited is an oil company that has its operations at Calgary, Alberta. The mining operation takes place in the Western Canadian Sedimentary Basin, a region which boasts of having a large petroleum reserve in the country. The production results from the Peace River oil sands, the Alberta Viking and the Pembina Cardium, the three key areas of production for Obsidian Energy.

 

The 2017 projected production is estimated to be 31,000bbl per day. The company has been among the sixty major groups at the Toronto Stock exchange market. It has also been a member of Canadian Royalty Trust and was also able to hit its peak having had a market capitalization of 9.5 Billion US dollars. Visit This Page for more information.

 

Obsidian Energy redefined itself on 26th June 2017 when the shareholders voted to change the name Penn West Petroleum limited to Obsidian Energy. Obsidian was chosen because of the materials ability to be easily transformed and reshaped. The Material much like the company has undergone changes which they have arisen stronger and capable.

 

Under the guidance of David. L. French who is the president and the Chief Executive officer the company sees to be fruitful in the industry. David was able to be part of Obsidian Energy in October 2016, a degree holder in Mechanical Engineering and an MBA he has the right skills to steer the company to success. The corporation is based on accountability within all parties involved and discipline. This will see Obsidian achieve more in the coming years.

 

View Source: https://globalnews.ca/news/3481168/penn-west-proposes-name-change-to-obsidian-energy/

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