Reassured When Investing In Obsidian Energy December 19, 2017



Obsidian energy mainly manufactures oil and gas in addition to other assets. The company was formerly known as Penn West Petroleum Ltd. until undergoing the name change on June 26th, 2017. David L. French, the president and Chief Executive Officer of Obsidian Energy, joined the company after his experience working for different companies. His previous works were the following:


– President and CEO of Bankers Petroleum Ltd. The Oil and gas company that originated from Calgary.

– Examined reservoir rock types, and primary-tertiary development through several regions.


French has also earned a Bachelor’s degree in mechanical engineering from Rice University and attended Harvard Business School to earn his MBA.



Operations of Obsidian Energy


Obsidian aims to scale their company worldwide. However, many ongoing operations are taking place in different regions. The infrastructure of the Alberta Viking area gives the city an advantage to the company since its light oil and gas mixture allows shorter cycle activities. This supports long cycle activities in the Cardium area. In an effort to reduce decline rates on wells, Obsidian Energy is working on an integrated waterflood approach that maintains the pressure of reservoirs that are connected to the wells.


In addition to the operations in the Alberta Viking and Cardium area, the Peace River is also undergoing manufacturing. The company created a joint venture partnership with the China Investment Corporation, the Peace River Operated Partnership (PROP). Click Here for more information.



An Environmentally Friendly Company


The Community Matters program allows employees and contractors of Obsidian Energy to manage their operations while dealing with the concerns of citizens. It’s vital to reduce any property damage from oil and gas operations. Their environmental programs satisfy all environmental regulation by stakeholder communication, resource conservation, abandonment of proper sites and approval of work done on reclamation sites.


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