Obsidian Energy Plans Growth For Coming Years

The oil industry is booming in various parts of the world. With new technology available, oil companies can now produce more oil than ever before. More people around the world are purchasing vehicles. New vehicles will only increase the world’s demand for oil.

Obsidian Energy is a leading oil company in Canada. The company has worked hard to position itself as a leader in the field. Over the past few years, the company has expanded and purchased smaller companies. The leaders of Obsidian Energy have plans to continue developing the company in the future.

The company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).

 

Environmental Issues

 

Obsidian Energy is located in Canada. The government of Canada wants to limit the environmental impact that oil companies make. Several oil companies have pledged to reduce emissions in the coming years.

Obsidian Energy is working on several alternative energy projects. The company wants to develop alternative energy products to increase sales and profits. Many people in Canada are willing to spend more money on clean energy to help the environment.

 

Financing

 

The oil drilling industry is heavily reliant on financing. Starting an oil company takes a tremendous amount of capital. Many oil companies have high levels of debt. Obsidian Energy is actively paying down debt to reduce future financial risks. Paying down debt is a smart financial move with the current levels of economic growth. See This Page for additional information.

 

Future Plans

 

The leaders of Obsidian Energy are excited about the future. Not only is the oil industry booming, but Obsidian Energy has several new growth opportunities. Solar energy looks like a massive financial opportunity for the company. Solar panels have significantly decreased in cost over the past few years. Solar energy is an excellent opportunity for customers to save money on electricity while helping the environment. Some investors are starting to invest money in Obsidian Energy.

 

Source: https://www.obsidianenergy.com/

Choosing Obsidian Energy for Your Fueling Needs

If you are in need of high-quality fuel, you need a company like Obsidian Energy. Obsidian Energy, formerly called as Penn West Exploration, has been in business for a long time and is Canada’s number one fuel producer throughout the country. This is why so many people have chosen Obsidian Energy for themselves and are thrilled with what this professional is able to do for them. If you feel it is time to switch companies, it is time for you to think about Obsidian Energy to do this for your own benefit. There are a lot of people who have tried to find a good company they can trust, and Obsidian Energy is the one for them.

 

Obsidian was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY). The company has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.

 

If you would like to learn more about Obsidian Energy and what they are able to do for you, it is time for you to think about visiting their site and seeing the types of services that they are offering. Once you utilize the company for all that it is able to do for you, you will notice that their fuel is far superior to anything that you might have used in the past. Plus, you are not going to be spending a small fortune just to be able to get this for yourself. You are going to want to visit the Obsidian Energy site and see what they are able to do for you, your family and your business. Find Related Information Here.

 

No matter if you’re a family who has their own home or you are a business owner, Obsidian Energy has the fuels that you need to get your home or office running to the best of its ability. They will be more than happy to work with you and get you exactly what it is that you’re going to need, which is one of the best things you can do for your own benefit. You will find that Obsidian is one of the best energy and fuel companies throughout the world, and they are a prime choice for those who might be on a budget or simply need help finding the right type of fuel for their homes and offices.

 

View Source: https://en.wikipedia.org/wiki/Obsidian_Energy

Obsidian Energy’s New Face

Obsidian energy is a completely new company. Changing its name from Penn West was its final stage of transformation. Like the final coat of paint on a new building. Having survived the financial difficulties, it faced in the past, the shareholders and managers of the company decided to transform it into a better company and a more profitable one. Its transformation into this new face included:

 

  • A change in the board of directors

It’s almost impossible to change the course of a company without changing its decision-making system. It’s either you change the way the decisions are made, or you change the people who make the decisions. The safest bet is to change the people making the decisions.

  • An appointment of an auditor

Finances are the most delicate part of a company. Regardless of what the company deals in, the bottom line is they be able to meet the operational costs and make a profit. This is the interest of the owners and the managers. To ensure that all the records that reflect the right numbers, there has to be a trustworthy accountant put to task. Because of this, Obsidian shareholders appointed Ernst & Young LLP, Chartered Accountants to audit their accounts.

  • An approval of the restricted share unit plan
  • An approval of the reduction of the share capital for account purposes

 

These are just some of the changes Obsidian Energy underwent to make it new. In addition to all the in-house re-arrangements, they changed their stalk symbol to OBE.

 

As a result of the changes the company has undergone, they experience a productive year in 2017. By the end of the year, Obsidian production had exceeded the numbers they had projected for the winter program. They produced roughly 700 barrels of oil every day. This sets them up for a good year in 2018.

 

Obsidian energy has also been able to come up with a portfolio program that is capital efficient. Looking at their peers, their portfolio is the best there is in the market. The changes also have allowed the company to do its operations within its means. This gives confidence in the projections they are making for this year. It also proves that they truly are the company described in their motto; disciplined, relentless and accountable. Go Here for additional information.

 

Source: https://en.wikipedia.org/wiki/Obsidian_Energy

Obsidian Energy: A New Name For A New Era

Shareholders of the old Penn West have made it clear that they would like a name to change in the company. The proposed name as determined by the board of directors will be Obsidian Energy. This is something that sounds a little better for the new era of business that we all find ourselves in.

 

The company has been undertaking a number of actions to help it get its feet under itself again. In other words, they have been working diligently to make sure that they are able to reshape the company to make it more sustainable for the future. Even though this does mean shrinking down the business in the near future, that is an acceptable outcome for ensuring that the long-term sustainable growth is possible for them.

 

Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. However, the new Obsidian Energy has sold off a number of assets that it used to hold in order to reduce its debt load. That debt was as high as $3 billion dollars in 2014, but now it has shrunk down to a much more manageable $384 million in March of 2017. That is something that can help the company use future inflows of cash for its own growth and sustainable future.

 

The number of employees working for the company has been shrunken down to increase the chances of sustainability in the future as well. These types of actions are frequently necessary when there is some call for restructuring in the air. A company has to make the choice to either do some trimming of its costs, or they have to face the reality that they will not be a viable business in the future. The choices really are as stark as that.  See This Article for more information.

 

We are all lucky to have a company with smart people at the helm of it making those tough choices. At least in this case, it does appear that the new Obsidian Energy will be making the right calls to protect the shareholder value that does still exist in the company. That is not something that all brands have the courage to do. We do know that this brand is at least going to make every effort to stick around.

 

More on: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

Penn West Acquires A New Name

There are very many companies in the modern market that have been specializing in the energy market. This is because the sector is believed to be profitable, especially when the leaders have all the knowledge required to survive the tough economic times. For several decades, only the wealthy individuals in the society have been investing in this industry because of the amount of capital that is needed. The few consumers who invest in this area make a lot of money. Sometimes, however, these investors can make huge losses, especially when there is a significant drop in the prices of fuel and oil. The only people who can survive in the complicated market are those that have a lot of expertise in the energy markets —  among them is Obsidian Energy.

 

Obsidian Energy, formerly known as Penn West, is a well-known energy company that has been making headlines in the modern times. The energy company has been operational for a while now, and it is slowly earning the trust of consumers in the world because of the quality of services it has been offering the customers. The institution is currently considered to be among the fastest growing energy companies that are found in the United States at the moment. Getting to the top position in the complicated industry has been a complex and painful journey for the firm. The leadership of the firm has been dedicated to making sure that the investors and consumers never get a chance to complain about the quality of services they get from the firm. These leaders have all the knowledge that is available in the energy world, and this has made them experts when it comes to making any complex decisions in the market. The investors in the firm have nothing to worry about because their investment is always in the right hands.

 

Although Obsidian has been very successful, it has to deal with numerous challenges. Because the management is only focused on delivering the best services to the consumers, the company has remained unmoved by these challenges. Just recently, the institution announced that it would be changing its name. According to the firm, the institution will be operating under the name of Obsidian Energy. The new name will be used in less than five working days. Investors will not be affected by the change of name in any way.

 

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Source: https://www.obsidianenergy.com/

The Rise of Obsidian Energy Company

It is a company which is based in Canada. It was previously known as Penn West Exploration Ltd. The company focusses in production of oil and natural gases. The company has been doing well for a long time not until in the year 2014 when it received financial difficulty. The financial difficult was as a result of falling in the price of the oil. The company experienced difficulty to a point where some of the assets were sold.

 

 

However, the company underwent some changes in the pursuit of reforming. That is when the company was renamed to Obsidian Energy Petroleum to pursue modest growth. The management knew very well that the extension would not come automatically and they recognized that extra efforts need to be put in place. All the reforms were to ensure that there was consistency in growth for the next three years. After the resolution, 92 percent of the shareholders voted in favor of the decision. According to Dave French who is the CEO, the company chose the name because the Obsidian is a naturally occurring company.

 

 

After some years of hard work and dedication, Obsidian was able to survive enormous debts. The assets were sold, and the company was able to reduce its debt to $384 million. All the focus was in sharpening the of the vital production sectors. The other thing that was done to deal with the crisis is to reduce the number of the employees. Apparently, the company is based on discipline, relentless passion for the work. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.

 

 

The shareholders must be accountable to nay activities that take pave in the company. This is the secret that has made Obsidian Energy to emerge stronger despite the challenges that were experienced in the previous years. Every company has some goals set aside and every other worker needs to work towards the realization of the goals. All the assets are strategically placed and there are able to provide a platform for the growth and deliver services to the clients. It is a clever way employed by the company to ensure that they achieve their goals.

 

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Obsidian Energy – The Oil and Natural Gas Company

Obsidian Energy Limited (previously known as the Penn West Energy Trust, Penn West Petroleum, as well as the Penn West Exploration Ltd.) is a mid-sized Canadian company for that specialize in the production of oil and natural gas. The company is based in Calgary city, in Alberta, Canada.

 

For a while, when Obsidian Energy Ltd. was among the S&P/TSX 60 index, the 60 largest companies that were listed Toronto Stock Exchange. From the year 2005 to 2011, it was a CANROY (Canadian Royalty Trust), and it managed to reach a peak market capitalization which was on Jan. 2008 of roughly USD 9.5 billion.

 

The oil and gas fields of Obsidian are situated in Alberta, at the WCSB (Western Canadian Sedimentary Basin), which is a region that is among the largest petroleum reserves in the world. Production comes from the three main areas in Alberta: The Alberta Viking, Peace River oil sands, as well as the Pembina Cardium. The total production in the year 2017 is anticipated to average roughly 31,000 bbl. equivalent each day.

 

According to the article in the BOE Report, the Penn West Petroleum announced that their shareholders had changed its brand name to Obsidian Energy Ltd. on 26 June 2017. In conjunction with their name changing, their stock symbol was replaced with OBE on the New York Stock Exchange and Toronto Stock Exchange.

 

David French, the Chief Executive Officer, and President commented that they were pleased to acknowledge the last step in their transformation with the change of the company’s name to Obsidian Energy.

 

As Obsidian Energy started a new chapter in their story, they are going to guide their three principles. These principles are disciplined technical plus commercial decision-making to build as well as protect the value of the enterprise, relentless pursuit of innovation and progress, and accountable as well as transparent efforts with their partners, shareholders, plus the communities in which the company operates.

 

David continued saying that Obsidian Energy Ltd. is positioned well with a healthy balance sheet, the right assets, as well as a reasonable hedging strategy that is going to allow Obsidian to be capable of setting a standard for performance and this is even in environments that are a lower price. Go Here To Learn More.

Obsidian Energy Has Restructured Its Business Model

Recently Penn West Petroleum re-branded to Obsidian Energy. The company plans to position itself strategically in the Canadian Market so that it can attract modest growth in the short-term period of close to three years. One of the strategies that the company will employ to ensure that it’s on a profit-making trail is limiting its spending budgets to the prevailing prices of oil and gas.

 

During a meeting to discuss the change of identity for Penn West Petroleum, 92 percent of the shareholders voted in favor of the new status Obsidian Energy. The inspiration behind the name obsidian came from a naturally occurring volcanic glass called obsidian. The glass has the unusual characteristic that allows it to be sharpened and honed. Dave French, the CEO of the company, expressed his optimism about the future growth of the business.

 

Over the past few years, Penn West has experienced turmoil in its business with soaring debts threatening the future of the company. However, the company managed to weather all the challenges by settling all its lawsuits last year. To bounce back, Penn West had to liquidate some of its assets so that it could reduce its debt portfolio. The company has also narrowed its business scope to only four critical areas of production from the initial thirty.

 

Obsidian Energy has also restructured its business model by downsizing the number of employees on its payroll. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Initially, the company had 1,400 employees, but at the moment, the number is down to 300.

 

At the moment Obsidian is ranked as a medium-size oil and gas producer. The firm boasts of a high-quality asset portfolio that has the capacity of churning over 30,000 barrels of oil every day.

 

Obsidian Energy’s asset base and the organization structure the company has adopted provide the right foundation for the firm to take off. Also, an entrepreneurial culture and the values that have been inculcated by the management enable the business to record bottom-line results.

 

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Obsidian Energy is a firm that is founded on the principles of discipline, passion, and humanity. Most of the employees at the company are relentless in their pursuit for better results for the business. Obsidian’s management and stakeholders believe that the enterprise is a force of change in the communities it operates.

 

Read More: https://en.wikipedia.org/wiki/Obsidian_Energy