When the Canadian company, Penn West Petroleum Ltd., underwent a number of key adjustments within the organization and its structure, the idea for re-branding the company was born. After a 92 percent majority of the company’s shareholders cast their votes in favor of renaming the company. Thus, on June 26, 2017 Penn West Petroleum Ltd. ceased its operations under its original name. Obsidian Energy Ltd. is the new name that this oil and gas producer that began operating under after this successful re-branding.
Obsidian Energy is one of Canada’s most impressive produces of natural gas and oil, reaching a daily average of somewhere around 30,000 boe. In addition to this impressive output, Obsidian Energy also is in control of some extremely high-quality assets, which make up the company’s nicely balanced portfolio.
It should be noted that the energy industry has been going through some of biggest changes that an industry has seen in modern times. Although what the energy market will look like in the future is certain, Obsidian’s management team is dedicated to pursuing continued success within this field. They believe that their passion and entrepreneurial spirit will be the building blocks that will allow the company to see great success for years to come in the oil and gas industry.
Obsidian Energy is well-poised to achieve its current goal of moderate growth over its next three years of doing business. This is because the changes that took place within the organization have created a team that is leaner, stronger, more efficient and capable of greater things that it ever was before.
Throughout the course of Obsidian Energy’s journey, it will strive to be very accountable to everyone involved in the process. This doesn’t just include their company’s partners and its shareholders, however. The local communities in which Obsidian Energy is able to operate are also a place that the company’s management team wishes to place accountability for the long term.
Obsidian Energy has a commitment to make positive impacts on all of the communities where they have operations. Obsidian sponsor a Community Matters Program where all employees and contractors are to communicate openly with all people in the communities.
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