Formerly known as Penn West Petroleum Ltd., Obsidian Energy has changed its name, and is now an entrepreneurial Canadian company that produces oil and gas. Based in Calgary, Alberta, the large company puts out about 31,000 bbl every day. The business mainly operates in three different locations- The Peace River, Pembina Cardium, and Alberta Viking.
The president and CEO of the company is David L. French. Mr. French is a very experienced leader and expert in the oil business and has brought about some major positive changes to Obsidian after the price of crude oil plummeted several years ago, something that the company is very proud of. Obsidian has announced its budget plan for 2018, as well as its estimated growth. After a good year of business in 2017, Mr. French sees an even better year ahead, and intends to lower costs and increase production.
The company anticipates about a five percent growth rate over the course of this year. Employees of the company can enjoy competitive compensation and benefits, as well as an enthusiastic, safe, diverse and progressive work environment. Safety and health of the employees is another major concern. The company follows and sets safety guidelines, and any injuries obtained while working are thoroughly investigated and reported. Go Here for more information.
Obsidian Energy aims to be involved with the community and its investors as well. In January, it held a presentation and a meeting to discuss the outlook for this year. The company’s employees are urged to discuss any concerns residents of towns near the production sites may have. Obsidian also tries to minimize the effects on the environment, as all programs at the very least meet the environmental regulations.
With a positive outlook for the company over this year, Obsidian Energy is an excellent example of the modern workforce and provides a widely diverse and entrepreneurial business spirit.