Obsidian Energy Ltd is a medium-sized oil and gas producing company in Calgary Alberta. The company was formerly known as the Penn west exploration, Penn west energy Trust, and Penn West petroleum until June 26th, 2017. It was among the 60 largest companies on the stock exchange of Toronto and became a Canadian Royalty Trust from 2005 to 2011 reaching its market capitalization of US $9.5 billion approximately. Changing the name to Obsidian Energy was approved by the shareholders of Penn West. The CEO, Dave French, mentioned that the reason behind choosing the name was that Obsidian was a volcanic glass, naturally occurring and that can be ‘sharpened and honed.’
The Obsidian Energy Ltd has balanced holdings of quality assets that roughly produce 30000 boxes daily. The organization and its assets promote an entrepreneurial spirit needed in the business industry for excellent entrepreneurial results. The company carries out its mandate with passion, discipline and full accountability to its partners, shareholders and the community around it.
Obsidian Energy Ltd, through its community matters program, aims at positively impacting the communities in which it lives and operates. It carries out its daily operations responsibly, respectfully and openly interacting with its area residents in addressing their concerns and mitigating oil and gas operational impacts with a goal of minimizing the effects of their operations on the environment through their environmental programs. Find More Information Here.
The safety programs of the company are to protect itself and its employees, fellow workers, families, friends, the environment and the public from accidents and long-distance effects. The policies and procedures maintain that the company’s stakeholders understand all regulatory compliances and every single advance towards business operations.
Obsidian Oil and Gas fields are in one of the largest petroleum reserves in the world; the Alberta region. The main production areas in Alberta include the Peace River oil sands, Pembina Cardium and the Alberta Viking.