Obsidian Energy is a successful company with well-balanced assets producing roughly thirty thousand boe of oil daily. With a company that focuses on organization, discipline and bottom line results it can be classified as a real up and comer in the oil and gas industry. The passion and entrepreneurial spirit of its management team will lead the company into establishing creative solutions to complex problems. Obsidian Energy is a strong advocate for accountability to its shareholders. This should reassure shareholders that the company’s best interests are at heart. Obsidian Energy also feels a strong moral accountability towards the communities in which it operates. To that end, the company established the community matters program to efficiently address concerns of the communities the company deals with on a regular basis. Obsidian is also proactive on environmental issue. Obsidian Energy also established an environmental program to meet and when possible exceed governmental environmental regulations. Refer to This Article for related information.
David French has already made a huge and everlasting impact on the company. He started with reducing the companies’ humongous debt from the three billion dollars it had when he started to the modest three hundred eighty-four million it currently has now. That is something he should be proud of. Next, David went about streamlining and reorganizing the company’s operations and in doing so has stabilized employment for the company at between three to four hundred workers. With all of these successes, you would think that this would be enough. It was not for David French. He then set out to have the company’s name changed, a new name is a new attitude and company foresight. He was able to gain ninety two percent of the shareholder vote in doing so. He renamed the company Obsidian Energy, a new name for a new future.
David French is without a doubt the perfect new CEO. Previously he was CEO of Bankers Petroleum Ltd. He has also served in management and consultancy positions for companies such as Apache Corporation and in the Permian Basin for Amoco Production Company. His experience will truly be an asset for Obsidian Energy.