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Obsidian Energy Strengthens Commitments and Focus December 5, 2017

Penn West Petroleum Ltd. has rebuilt itself from the ground up and changed its name to Obsidian Energy Ltd. Based western Canada Obsidian Energy underwent significant internal restructuring when it changed its name in June of 2017. The company is now producing 30000 barrels of energy per day under its new management and structure.

 

Obsidian Energy is under the strong and experienced leadership of George H Brookman. Mr. Brookman Is the former CEO of West Canadian Industries Group Incorporated. His team includes David L French as acting President and CEO. Mr. French served as the President and CEO of Bankers Petroleum Limited before joining Mr. Brookman at Obsidian Energy. Under the guidance of Mr. Brookman and Mr. French, Obsidian has devoted itself to the community, its environmental health and safety concerns and corporate governance offering investors a safe, secure and profitable venue.

 

Obsidian Energy promises and produces a positive impact upon the communities and surrounding communities where it holds bases of operation. The company is committed to mitigating the impact on the environment from its oil and gas production. They seek to set new industry standards exceeding current regulations. Health and safety is a major focus of Obsidian Energy and it is dedicated to not only its employees but the surrounding community and environment. It offers strong avenues of communications to ensure the health and safety of employees, their families, friends and the general public throughout all its bases of operation.

 

For investors Obsidian Energy is reporting strong 2nd quarter results for 2017 and is predicting 5% growth for 2018. The Deep Basin, Q3 Program and Waterflood performances are exceeding all expectations for 2017 and 2018. Investors can expect a more simplified and streamlined reporting system. Improved communications include conference calling and webinars covering the topics of analysis and financial statements. Digital recordings of the conferences are available and are posted with the Securities Exchange Commission.

 

Obsidian Energy Ltd. has extensive holdings and bases of operations located in Alberta Canada and is resolute in its commitments and accountability to its shareholders, partners, employees and the communities it serves.

 

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The New Face Of Powering The Future By Obsidian Energy December 3, 2017

Energy production in the current dispensation of changing global trends is a subject that cannot be overlooked or taken lightly by any company involved in power production. In this regard, Obsidian Energy has gone beyond ideological considerations as evidenced by its recent changes. Obsidian Energy, formerly known as Penn West Petroleum Ltd underwent a momentous change on 26th June 2017 in a bid to redefine how energy production will be done within the organization. In addition to redefining how Obsidian Energy will step up energy production, the name “Obsidian” rightly suits the company’s new outlook to emerge as natural as possible and also perfected and polished.

 

Just like any other serious company that understands the dynamics of business in the midst of numerous global changes, Obsidian was driven by the resolve to resurface in as more resilient and adept in energy production. Obsidian Energy remains optimistic that it will make immense developments and this is a positive move. This is possible because of the company was previously categorized among the sixty largest companies in the stock market in Toronto. The other promising factor about Obsidian Energy is that it has gas and oil fields in West Canada, thus accessing one of the best and biggest petroleum reserve in the world. The new outlook of Obsidian Energy is already bearing fruits as evidenced by the positive performance in the announcement of its third quarter financial results ending in September 30, 2017. The company has projected a five percent growth in the year 2018 and this clearly indicates that the company is on right track. Read This for additional information about Obsidian.

 

As a consideration and commitment to genuinely improving lives in the communities, Obsidian Energy has initiated unsullied initiatives geared towards mitigating negatives that are related with energy production. Obsidian Energy employs serious accountability in regard to safety of employees and other persons who are connected or affected by it operations. This is done through well outlined safety standards and most notable is in their plans on how to respond to emergencies arising during energy production.

 

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Obsidian Energy December 1, 2017

After the company was renamed, Obsidian has experienced immense growth. The management has been keen to ensure that the budget is spent wisely. The company faced several challenges, and the administration came together to provide a solution. After some discussions, 92% of the shareholders voted in favor of the resolution. Apparently, when all the stakeholders agree on something, then implementing it becomes more natural. That is why the company rose again even after the challenges that led to its collapsing.

 

 

Formerly, Penn West Petroleum Ltd., Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff. One of the main things that are emphasized in the company is the safety of the workers and the surrounding community. The workers are encouraged to put on safety gear whenever they are working. Wearing safety clothes help in preventing accidents that could be averted. Due to that, they have come up with safety principles that must be observed by all the workers. The company’s management ensures that compliance by establishing appropriate programs.

 

 

Also, any injury that occurs must be reported and investigated. Apart from that, all the applicable jurisdictional regulation must be enforced in the site. Therefore, when all the rules are observed, chances of accidents occurring are minimized. They also have an emergency response plan. Obsidian energy is ready to respond to any emergency involving its operation. Due to proper management, the company has continued to have positive results. It had made arrangements for clearing some of the debts incurred when it had some crisis. Find Related Information Here.

 

 

The other important thing that concerns Obsidian Energy is the environment. Measures are put in place to ensure that the situation is not damaged. Oil and gas can cause significant environmental effects. The management understands s all the results and that is why they came up with methods of minimizing the effects. If the environment is not conserved, then the relationship between the company and the surrounding community can be tense. The community can accuse the company of poisoning them. We all know that for a business to be successful there must be a proper relationship between Obsidian Energy and the society. The workers from the group must also respect the people form the surrounding community.

 

See Also: https://beta.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/penn-west-shareholders-approve-name-change-to-obsidian-energy/article35463586/?ref=http://www.theglobeandmail.com&reqid=%257B%257Brequest_id%257D%257D

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The Noble Obsidian Energy November 29, 2017

Obsidian Energy provides quality products to its consumers. The company produces oil and gas that are well balanced. The Obsidian Energy produces 30,000 liters of energy daily. This aspect has enabled the company y to succeed in their endeavors since the staff is determined to achieve their goals. The results that have been posted by the company have been phenomenal hence they have attracted more clients.

 

 

The employees of Obsidian Energy have been passionate about their undertakings. Discipline alone has propelled the company to greater heights. The shareholders have also been accountable for every activity that is going on in the company. The communities and partners of the company who are also the shareholders have been briefed on every activity of the company.

 

 

The Obsidian Energy is a public company that was founded in Canada formerly Penn West Petroleum Ltd. The Chief Executive Officer of the company is known as David L French. The company has been able to employ several numbers of employees. Currently, 300 employees have been employed in 2017. The headquarters of the company is situated in Calgary.

 

 

Obsidian Energy contains fields that process gas and oil. The location of the fields is in Alberta. The sedimentary basin that is located in the west of Canada is the region where the products are manufactured. The region has been ranked as the best in terms of having reserves of the products. The Alberta is famous for containing three areas that manufacture the products. The Pembina Cardium, Alberta Viking, and the Peace River Oil sands are the areas where the products are manufactured.

 

 

This year, Obsidian Energy is projected to increase its production with 31,000 liters of the oil projected to be produced. The employees at the company are offered skills that could propel them to greater heights. The company has introduced a performance culture where the employees are put to task to deliver.

 

 

The employees who deliver the best results are awarded benefit packages. Obsidian has enhanced environmental sustainability. The employees have been trained on how to handle the environment. The community has been engaging in vital matters of the company since they are part of the company. The safety issues have been promoted where the employees wear safety gear in all their operations.

 

See This Article for learn more about Obsidian Energy.

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Penn West Announces Its Official Re-Branding To Obsidian Energy Ltd November 27, 2017

David French, the president and CEO of Obsidian Energy, said that their fresh path would combine relentless pursuit to progress and innovation, accountability and transparency with shareholders, and appropriate decision-making both commercially and technically to develop and protect enterprise value.

 

Mr. French added that Obsidian Energy is looking to elevate the bar of performance due to its assets, prudent hedging strategy and a healthy balance sheet. The other activities undertaken during the meeting were the appointment of an auditor, election of directors, approval of new executive compensation approach, and approval of reduction of share capital for the purposes of accounting.

 

With a production capacity of about 30,000 bbl per day, Obsidian Energy is in a better position to achieve success in the evolving industry. For a long time, the Alberta-based company has been ranked among the 60 largest companies on the Toronto Stock Exchange. While operating as a CANROY- Canadian Royalty Trust, Obsidian Energy hit $9.5 billion in 2008, the highest market capitalization. The company operates along the Western Sedimentary Basin, which is among the world’s largest petroleum reserves. Obsidian Energy, through the initiative, “Our Community Matters,” is committed to protecting the community and the environment. They facilitate the production of safe oil and gas operations by minimizing their impacts on the environment and the community. Click Here For More Information.

 

They are also guided by safety principles that not only protect company workers, but also their families, friends and the public. The company has comprehensive emergency response programs (ERPs), which stipulate specific procedures and responsibilities of Obsidian Energy in case of an emergency related to their operations. To ensure effective corporate governance, the company communicates its approach to business operations and regulatory compliance to all stakeholders. The corporation strives to build and maintain relationships with external stakeholders while offering them training to ensure that they comply with the regulations.

 

Read More: http://boereport.com/2017/06/26/penn-west-changes-name-to-obsidian-energy-ltd-and-announces-voting-results-from-the-2017-annual-and-special-meeting-of-shareholders/

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Obsidian Energy Preparing For A Bright Future November 1, 2017

Obsidian Energy Ltd is a Canadian business that is working in the industry of oil and natural gas. The company has switched its name a few times. First, the company was  called Penn West Exploration Ltd. And the previous title was Penn West Energy Trust.

 

The business of Obsidian Energy Ltd was created by businessman Mr. David L. French. He is operating as the Chief executive officer of the company as well as its President. Obsidian Energy Ltd has been based in Calgary, Albert in Canada since its inception back in 1979. Up to date, the company has three hundred employees.

 

Like any other business, Obsidian Energy has also had its ups and downs. For some time, the company was one of the sixty biggest firms on the Toronto Stock Exchange, and from 2005 up to 2011, Obsidian Energy was also CANROY or Canadian Royal Trust. During that time Obsidian Energy reached its all-time peak in profits and in January 2006 it achieved a revenue of nearly ten billion dollars.

 

In 2014, however, the prices of crude oil fell significantly. That started some problematic times for Obsidian Energy, and so the business went through a sharp restructuring. The most substantial part of the assets of Obsidian Energy had to be sold off over the next couple of years in order to pay off the debts.

 

Up to date, Obsidian Energy has its fields of gas and oil located in the province of Alberta, Canada. They are located in the region of the Western Canadian Sedimentary Basin. It is among the wealthiest petroleum reserves on the planet. The production of the company is sourced from three primary areas which are the Peace Riviera oil sands, the Pembina Cardium, as well as the Alberta Viking. For the year of 2017, it is expected that the production will reach an average of about 31 000 bbl. a day. Visit This Web Page for more.

 

So far, Obsidian Energy Ltd has been gaining a lot of attention. The company is going strong with production as well as sales. Although the business has had some hard times along the way, Obsidian has set eyes towards the future of the company.

 

Related: http://www.ogj.com/articles/2017/05/penn-west-petroleum-moves-toward-changing-name-to-obsidian-energy.html

 

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