Obsidian Energy is a Canadian oil and natural gas company that is located in Calgary, Alberta. The gas and oil fields are located in a region of one of the world’s largest petroleum reserves. Prior to Obsidian Energy, the company was known as Penn West Petroleum, Penn West Exploration, and Penn West Energy Trust.
At one point, the company was the sixth largest company in the Toronto Stock Exchange. The company experience financial difficulties in 2014 when there was a significant decrease in crude oil prices. The decrease forced the company to restructure the majority of their assets throughout the next two years in hopes of reducing debt. As of June 26, 2017, the company changed its name to Obsidian Energy. The assets and organizations within the company deliver the best results that allows the company to succeed in the industry.
The company has made a number of significant changes that have allowed the company to grow. Obsidian focuses on having a positive impact on communities. They are committed to conducting their operations in a respectful and responsible manner. They encourage their employees and contractors to openly communicate with residents about the impacts and concerns involving the gas and oil operations. The company aims to reducing the impacts of their operations on the environment. Anyone that has any questions or concerns about the operations of the company is encouraged to email or call their toll-free number. See This Article to learn more about the company.
The CEO of Obsidian Energy is David French. French became CEO of the company in October of 2016. Prior to Obsidian Energy, he was the President and CEO of Bankers Petroleum Ltd. Obsidian Energy currently has three operations. These operations include: Alberta Viking, Cardium, and Peace River. In conclusion, the company strives to guarantee that all stakeholders have a good understanding of their business operations.