Obsidian Energy impressed investors after announcing higher than expected third-quarter earnings on November 10th. The third-quarter gains are likely attributable to Obsidian’s continued streamlining of production. Executives, including CEO David French, suggested that this had been Obsidian’s busiest drilling season since the company transformed itself and lost the old Penn West Petroleum name last year.
Under French, a relatively new addition to the former Penn West family, Obsidian has seen more than its name change. The company has instituted a “Community Matters” program that seeks to proactively counter the potentially negative consequences of oil production in rural Canadian communities.
The new initiative is designed to involve community voices in risk mitigation, and to integrate Obsidian’s own environmental protection policies with the desires and perspectives of their local constituents. Obsidian has tasked itself with becoming a good corporate citizen and neighbor, and seeks to be more than an employer in the areas in which it operates.
French and Obsidian Energy have also ushered in a renewed dedication to designing and implementing environmental policies that exceed national standards and expectations. Obsidian’s new emphasis on environmental sustainability is part of an overall plan to continue construction of the company as a model for other mid-sized Canadian oil producers.
These two new efforts are combined with a strong, pragmatic, methodical perspective on growth. While Canada continues to utilize its massive oil reserves (third largest in the world) to supply the United States and other nations with vital petroleum imports, Obsidian hopes to grow in this changing industry by remaining on the cutting edge of technology, and by ensuring the maintenance and expansion of its already exceptionally productive assets.
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Obsidian has benefited tremendously by this shift in its corporate culture, and it largely has Mr. French and his team to thank for what shareholders must be characterizing as a fortuitous turn of events.
See Also: https://www.bloomberg.com/quote/OBE:CN
Obsidian Energy is a name that was acquired mid this year by the former Penn West Petroleum. The change of name came in a timely manner as the company was trying to realign its future. Obsidian Energy intended to succeed in the oil and gas industry and they were determined to work towards this goal.
Obsidian Energy currently produces close to 30k boe daily while it has assets worth millions that are well balanced. The organization is organized in such a way that they are result oriented. Their strategies have been planned for adequately to ensure that the right platform is provided to overcome all odds and emerge as a successful oil and gas producing company. The people who work for and with Obsidian Energy are encouraged to have an entrepreneur mindset in order to grow and prosper in the ever-changing market. The company was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).
Obsidian is value driven and works with discipline towards their set goals. The passion in what they do is what has kept them on the right track and this has driven accountability within teammates, shareholders and the partnerships they have built. They are open and respectful to the people in the communities they live in. They address any concerns the people may have regarding the work they do. They have gone a step higher in enhancing safety in the way they operate such as the following the right ways when it comes to abandoning the land they have used.
With the growing concern in the environment, Obsidian Energy has made sure that they are using environmentally friendly procedures in their operations. They are also very keen on safety. They have set policies in place to make sure that their employees are well covered in case of an emergency. They conduct regular training to make sure that all the people they work with know how to operate while keeping themselves and others safe. Read More Information Here.
Obsidian Energy is compliant, and their work abides by all regulations that have been set for the oil and gas industry. The company has resurfaced as a more capable oil and gas producer as it uses its strengths to work towards satisfying their clients.
Obsidian Energy is an oil and petroleum company who have been able to serve the industry over the years bearing hard economic times. But as they always say, the company found the need to keep up rather than quitting. The firm CEO Dave French supported the recent idea of adopting the name Obsidian Energy. Previously, the company was known as Penn West Petroleum, but recently the shareholders held a meeting and agreed to change the name by a significant margin of 92%. Obsidian Energy reveals that they have established a plan to improve its operations over the next several years as by laying out a spending budget that will be conducive to the challenges facing the oil and gas prices in the market.
Dave French said that they want to adopt the name to Obsidian Energy because they found it to be perfect and matches the work of the company as the name Obsidian means something unique like glass found in the natural volcanic that can be honed and sharpened to the owner’s needs. The management reveals that the last few years have been so tough economically for the company as they were surviving under high incurring debts that forced some investors to present lawsuits against them. Due to the efforts of a committed and dedicated management team, Obsidian Energy was able to steer up through the struggles and settled all the debts by the end of last year.
They sat down on the board of the Obsidian Energy and discussed on working measures that would help them get back to a full-scale profit-making company. One of the measures they took is to sell some assets and were able to minimize their debt standings to $384-million. This was a major achievement when you look back at the year 2013 when their debt had accumulated to $3-billion. As of now, Obsidian Energy says that they are going to start a new chapter as things are now getting positive. Obsidian will concentrate on three major areas in which they will implement and make a roadmap to follow. They are concentrating on building highly disciplined commercial and technical decision-making platform which will help in reclaiming their value again. The second principle is to pursue innovation relentlessly with the use current technology and establish a transparent interaction between the shareholders, partners and the surrounding community as a whole.
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See Also: http://www.marketwatch.com/investing/stock/obe
When you think of innovation, who else could come to your mind but CEO of the company National Steel Car, Gregory James Aziz. He also goes by his middle name James Aziz, or Greg Aziz. This company focuses on building railroad freight cars. Who said that the railroad is dead? It is a booming industry thanks to this man. He is married to his beautiful wife, Irene who assists him in his sponsorship of the Royal Agricultural Fair in Canada. They truly are a power couple in Canada.
Gregory J Aziz came from London originally before moving to Canada. He was born in 1949 and went to Ridley College and the University of Western Ontario. Oddly enough his family is in the wholesale food business with a company named Affiliated Foods. In 1971 he started working with them. They grew to become a worldwide company, all the way from Europe to the South American area. They mostly deliver to The U.S. and Canada.
Keeping the Railroad Industry Alive
Gregory J Aziz has kept his company actively running for eighteen years straight. They have won the TTX SECO award for highest quality since the year 1996. The company is known for its extensive reputation in being generous to multiple charities. Some of these are;
- Salvation Army
- The United Way
- Hamilton Opera
- Theater Aquarius
His employees are also happy as they have the National Steel Car Christmas Party each year that assists local food pantries in the area of Hamilton, Ontario.
Refer to This Site for more information about Aziz and National Steel Car.
Starting His Own Business
After working in the family business, Greg James Aziz, moved to the glorious city of New York and became an investment banker. This enhanced Aziz’s knowledge how to successfully run a business. He did this from the later portion of the 1980’s to the early 1990’s. He bought National Steel Car back in 1994. Aziz’s dreams became a reality and he created both Canada and the United States most successful freight car building company. Gregory J Aziz did such a fantastic job running the company, that when he purchased it, they could only make 3,500 cars per year. By 1999 they could produce 12,000. He also created 2400 new jobs since the takeover. They initially were a smaller company with only around 600 people working for them. Gregory J Aziz truly is an entrepreneur to be admired.
Mr. Gregory James Aziz has been the owner of the Canadian company National Steel Car for more than 24 years now. It had been a plan of his to acquire the company and establish it back to its former success in the industry or rolling stock manufacturing.
Mr. Gregory J Aziz is working as the Chairman, President, and Chief executive officer of the corporation. National Steel Car is a Canadian freight car manufacturer based in Hamilton, Ontario and it has been in the business for 104 years and counting. National Steel Car was established in 1912 under the name Imperial Steel Car. Having been in business for such a long time, the National Steel Car had experienced many highs and lows over the decades.
When Mr. Greg James Aziz acquired the National Steel Car, the company was nothing like it used to be. Its resources had dwindled down to only a few hundred employees, and it was able to produce only a few thousand freight cars per year.
The company of the National Steel Car used to be under the ownership of a large corporation called Dofasco. Even though the company tried to restore National Steel Car, but its efforts were nowhere near enough. National Steel Car used to be a leader in its line of work, but it had fallen behind severely many years ago. In 1994 Dofasco had utterly given up on working on the revival of the century-old business and sold it to Mr. Greg James Aziz.
With 600 employees and an annual manufacture capacity of only 3 500 cars, National Steel Car was not receiving many orders. The company needed a restructuring from the ground up as cosmetic changes were not going to cut it.
Mr. Greg James Aziz started to revive the National Steel Car by making the name popular again. The company gain presence and better advertisement. Once things had started picking up once again to some extent, Mr. Greg James Aziz directed the capital towards expansion. The capacity of annual production increased and after five years of ownership it the company could produce 12 000 cars per year instead of only 3 500. The employees also grew from 600 to 3 000 in the same period. Get More Info Here.
These days the business of National Steel Car is booming again. Being under the ownership of Mr. Greg Aziz proved to be just what the National Steel Car needed in order to be a leader in its line of work once more. The company even started exporting its production.
See Also: https://ca.linkedin.com/in/gregaziz
Formerly known as Penn West Petroleum Ltd., Obsidian Energy is an oil and gas mid-sized company based in Canada. Thanks to company’s evenly-balanced portfolio of good-quality assets, the company boasts a daily output of 30000 Barrel of Oil Equivalents (BOE). The values that drive the business are burning passion, an entrepreneurial spirit, high accountability to stakeholders and discipline. Working from this stand the company has also built a stable organizational structure that has facilitated a steady output of high volumes of BOE.
Explaining the change of name, the management posts on their website that the corporation went through substantial alterations in every aspect of its structure that affected all parts of its business. Obsidian thus culminated in the change of its identity and also leading the leadership to define where it would move from there. The company claims to have come out stronger and more versatile than before and promises even higher efficiency and performance in its new identity as Obsidian Energy.
The Company, which is based in Calgary, Alberta, where most of its oil and gas fields are, was among the S&P/TSX 60, the most substantial top 60 companies on the Toronto Stock Exchange. Between 2005-2011 the company attained a pinnacle market capitalization of $9.5 billion.
Located in the region that ranks top among the world’s deposits of oil, the Western Canadian Sedimentary Basin, the company’s location allows future expansion and growth.
In a notice to the shareholders, David French, the Obsidian Energy’s President, and its CEO said that the firm was at a good point given its right assets, a promising balance sheet and a hedging strategy that was prudent and unique.
Obsidian has sustained its listing at New York Stock Exchange and at Toronto Stock Exchange remarkably surviving the slump of oil prices that hit the petroleum market in the years preceding 2010. In a demonstration of the promise for brighter days ahead, the company has steadily grown and expanded its assets since the new CEO took over. The President says the Obsidian Energy would be sustaining a prudent decision-making to build and sustain its share value and market share. Visit This Site for more info.
Read More: https://www.obsidianenergy.com/
National Steel Car Limited is a corporation that designs and manufactures tank cars as well railroad freight cars. It offers a variety of cars that include; hopper, ultra-fast flow coal, gondola. Super duty box, coil, flat, tri top and tri hopper cars. The corporation also deals with manufacture and supplier of freight car parts such as fulcrum brackets, handholds and ladder rounds, trucks and wheelsets, center beams, gauge tables, auto racks among many other parts. In its effort to reach out to more clients, it offers after sale services. National Steel Car Corporation serves the North America market. National Steel Car Limited was founded in 1912. Its stations are based in Hamilton, Canada. It operates as a subsidiary of the larger National Industries Inc.
Now with over one hundred years serving the people of North America, National Steel Car has made it clear that it is committed to quality in its engineering and manufacturing operations. It has created a name for itself as the leader in the car and freight car manufacturing industry in the whole of North America. It serves the Canadian and United States markets. National Steel Car has built a good rapport with their clients by assuring them of quality products. The clients are their strongest talking point. No corporation can survive through for over a century without the support of a loyal customer base. Check Out This Article.
In its recent efforts to expand its reach in the market, National Steel Car has become dynamic and have diversified its operations to address more areas of the technology. The corporation has also invested heavily in innovation which will expand the operations of the company.
National Steel Car has proved to be consistently working for the betterment of their clients’ needs. The company is ISO certified and has been awarded TTX SECO award for quality for over a decade back to back.
Gregory James Aziz is the CEO of NSC. He has been at the helm since he bought the corporation in 1994 from a company known as Dofasco. He is the person responsible for the current business expansion in the corporation. Greg J Aziz has brought in a new fresh of breath that was needed in this old corporation for it survive. He has implemented measures that have had far-reaching implication in the operations of the corporation.
Today James Gregory through NSC has employed more than 2000 workers directly. With the loyal customer base, the corporation has, it can only get better with time.
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Gregory James Aziz is recognized as one the most successful entrepreneurs in the Canada. He was born in 1949 and has grown his career since the early 1970s. Aziz is the proprietor of National Industries Inc., which is the company that owns National Steel Car. National Steel Car is a multi-million-dollar business that builds top-notch railroad freight cars and tank cars. The manufacturers’ main offices are based in Hamilton, Ontario, and its products are sold across the country. Mr. Aziz was awarded an economics degree at the University of Western Ontario. His career started at Affiliated Foods, which is a renowned food wholesaler that distributed products in the United States and Eastern Canada. Gregory was the administrator of Affiliated Foods for about 16 years and managed to grow the company into a global importer. It currently sources fresh foods from Europe and South America.
The businessman took over National Steel Car’s management in 1994 after acquiring it. The railroad freight car manufacturer’s reputation has been outstanding for the past one century due to its remarkable manufacturing, innovation, and engineering approaches. National Steel Car has penetrated the North American market, and its workers are proud to be the continent’s leading builders of railroad freight cars. The firm is value driven, dynamic, and diverse. Greg Aziz has ensured that his company is served by the best technologists and engineers in the industry. All the railroad freight cars and tanks that it offers exceed the expectations of its customers.
Greg Aziz has developed excellent relationships with the supplier, contractors, and clients of National Steel Car. In the past 18 years, the manufacturer has been an undisputed winner of the TTX SECO award because of the quality and uniqueness of its products. The business became the first developer of railroad freight tanks and cars in North America to receive an ISO 9001:2008 certificate. See This Page for More Info.
Since the transfer of National Steel Car’s ownership to Gregory Aziz in 1994, its production has constantly been increasing. He has used outstanding approaches in growing the firm, and they include innovative engineering, team building, and investing in human resource. The company’s staff had grown from 500 to 3000 employees by 2000 and the number of freight cars that it manufactures also increased from 3,500 to 12,000. National Steel Car runs a couple of charity programs that are beneficial to the Hamilton community. It has also been organizing Christmas parties for its current and former workers every year.
See Also: https://about.me/greg.aziz