Change has not only occurred, but it will continue to occur, formerly Penn West Petroleum Ltd., is now Obsidian Energy a Canadian gas and oil producer. More than just the name has changed from Penn West Petroleum. Now Obsidian, the entire organization has under gone a major change from the ground up. The company has reduced assets the be a leaner, faster moving company. Obsidian has changed and restructured every single aspect of the organization and they want everyone in the world to know that they are not who they once were.
Obsidian Energy is now an intermediate sized organization that has a premium, diversified portfolio of high calibre assets that yield about 30k of boe day. By now being an intermediate company structured to maneuver as a small enterprise, Obsidian has the necessary, flexible attitude to change and grow to keep pace and succeed in the ever-changing, energy industry.
While Obsidian Energy used to have over 30 production areas they now focus on four. These had been their most profitable production areas and have the most proven oil reserves. The areas in which they work have some of the largest oil reserves on the planet. These four production areas are Pembina Cardium, Deep Basin, Alberta Viking, and Peace River Oil Sands
Obsidian Energy is priming themselves for the challenge and they are more than ready to meet the challenges that come with operating within this complex, ever-changing, energy industry.
One great thing about Obsidian Energy is that even though it maneuvers like a small enterprise, they still take pride in being held accountable to their shareholders. Obsidian’s accountability is a shining manifestation of the passion in how they work within and outside the company with respect to communities and business partners. Obsidian’s passion is the tangible manifestation of their superior work ethic, far surpassing their industry peers.
It was time for Penn West Petroleum Ltd., to open up to the world and show how they have become this strong, rising phoenix (Obsidian) they’ve evolved into over the past few years. Obsidian has completely shed their past, with no trace elements of Penn West Petroleum. Read This Article for additional information.
Mr. David French (new CEO) is laying down the law and letting everyone know that the new sheriff is in town and they are doing things a different way now. There are no more ghosts of the past, “This year marks a new beginning for us, and we are excited to turn the page on a new chapter,” David French said in a press event.
Check them out on https://www.facebook.com/pages/Obsidian-Energy-Ltd/686118968246981