Obsidian energy, a Canadian gas, and oil producer is an intermediate-sized company with a good portfolio of high-quality assets which produces at least 30,000 boxes each day. Bottom line results are a product of organizations that they have crafted and its assets. Obsidian Energy Company has an entrepreneur spirit which motivates them in succeeding and achieving its main objective. The company’s operations are based on relentless passion and discipline, determined accountability shown to their stakeholders, communities, and their business partners.
Obsidian aimed at protecting the environment in a better way. The company wanted to participate in evolutionary changes. Penn West Petroleum Company experienced accounting scandal and high debt level. Due to this, the company reduced its employees from 1400 and 300 and production level reduced to 28000 barrels of oil. On June the 26th, 2017, the company changed its name from Penn West Petroleum Ltd. To Obsidian Energy Ltd. Before the change of name, the company experienced significant changes in the organization. These changes affected each aspect of the company’s business and led it to the redefining of the company and how and where it will grow.
As Obsidian Energy, the company reemerged more capable than before, leaner, and stronger. Its strategic placement helped the company in the provision of bottom line and growth results which led to the success of the company. Areas like Peace River, Alberta Viking, and Cardium together enabled Obsidian Energy in the production of natural gas, heavy oil, and light oil. Obsidian Energy takes responsibility into the heart. They believe that safety comes first. They ensure that the environment, community, and workers are kept safe. The company has positive impacts on the areas they operate from. They assure the longevity of existence that the company will be around even in future. Obsidian Energy Company respects the environment and people around. That’s the reason why Obsidian Energy company is poised for success.
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