Obsidian Energy is a company that operates from Calgary, Alberta in Canada. The company deals in the line of natural resources but majors in producing oil and natural gas. It formerly functioned as Penn West Petroleum Limited and acquired the current name in 2017.
The headquarters of the company borders areas that are rich in petroleum oil. The company is built on the Western Canadian Sedimentary Basin. This proximity has contributed largely to the success of this company. The contractors have been able to save on costs involved in transporting tools and workmen who assist in drilling.
While functioning as Penn West Petroleum Limited, the company made huge profit turnovers that earned them a position in the New York Stock Exchange Market. This was possible because of how the managers of different departments organized their employees who maximized productivity. Right now the company still operates on its high standards and have managed to be the leading in the stock exchange markets.
David French, who is the company’s current chief executive officer, has reported that the company is now receiving more investors and shareholders compared to their previous records. Similarly, Obsidian Energy has also increased in the selling of its assets. The sales have raised the profits earned by the company by far much higher percentages. Canada as an economy has equally benefited since the country gets a fair share of these profits through taxes and other deductions.
Changing the name of the company was only for the good. Evidently, The Company has managed to pull a larger teamwork of employees. The numbers have increased by a percentage of more than fifty. Having employees who are well coordinated and experienced is what every company needs for it to thrive in its activities. Employees have worked persistently to ensure that the company meets its target within the time frames that they set at the beginning of each financial year. The transition has also helped in marketing the company due to the improvements that David French has put forward. Read More On This Page.
It is good to embrace change for the new opportunities provide chances for one to do better. It is gospel truth that Obsidian is now making ginormous advances since the change.