Obsidian Energy is a well-known organization that has been producing oil and gas in large quantities every day. The daily production of the company approximates 30,000 boe. Initially, this firm functioned under the title of Penn West Petroleum Limited in Calgary in 2005. The company formally changed its name to Obsidian Energy Limited in 2013. The company transformed internally as well and has succeeded in establishing itself as a front-runner in the field of oil and gas production.
In its previous avatar as Penn West, the company faced challenges related to debt and production deficits. It downscaled its workforce to 300 form a former number of 1300 employee. The decision to revise the name of Penn West was driven by shareowner majority votes in favor of this change. The name Obsidian was selected as it means a rock formed by the crystallization of lava. The nature of this stone allows it to be molded and sharpened, reflecting the status of the company.
David French is the Chief Executive Officer of Obsidian Energy. He joined the firm in 2016. David Hendry serves as the Chief Financial Officer while Tony Berthelet is Vice President. The Board of the company constitutes distinguished members such as George H. Brookman, John Brydson, and Raymond D. Crossley, among others.
Obsidian gives back to the community. It does so through its efforts to avoid environmental pollution and attempts to adhere to environmental laws stringently. It actively discusses its operations with local residents to address concerns about the environment. The Obsidian Energy also follows safety rules and ensures the safety and well-being of its workforce and the community at large. It also has in place an Emergency Response Plan to respond to any sudden breakdown of machinery or services. It is affiliated with the National Energy Board and meets its safety standards. The Obsidian Energy is transparent in shareholder dealings. It allows shareowners to understand the process of the company’s functions. It also educates both employees and stock owners about regulations and how to abide by them. See Related Link for more information.
Obsidian Energy has organized itself into a well-functioning body of executives and employees committed to achieving maximum production efficiently, within the limits of environment and workforce safety.