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.
Obsidian Energy is the new name of the company once known as Penn West Petroleum. Its new CEO, Dave French, who took control the ship in October has remarked that the name change was appropriate because the company has become something completely different from Penn West. He also commented that he was excited for the change and ready to turn the page on a new chapter for the oil and gas company that produces close to 30,000 boe a day. Part of the changes that occurred within the company were in the way it does business, and this means that the new Obsidian Energy is working hard to re-focus its energies on its shareholders, the public it serves, and the environment that it works in.
Obsidian Energy has a stable, strong, and vital management team that is leading it into the future. Its CEO, Dave West, who joined the company in 2016 has worked with other oil companies in the past and has led them to great success. David Hendry, its Chief Financial Officer, has more than 25 years of experience in the financial industry and was previously the Vice President at Talisman Energy Inc. Tony Berthelet, Vice President of Development and Operations, who has close to 2 decades of experience in the energy industry. Andrew Sweerts, Vice President of Production and Technical Services who brings with him 25 years of experience in the oil and gas industry. Last but not least, Mark Hodgson, Vice President of Business Development and Commercial, who has held several other management positions in the gas and oil industry. Visit This Page for additional information.
Obsidian Energy is making it a top priority to educate its shareholders on their new approach to business. Its diligence in following regulations and ensuring the safety of its employees and the communities that it works in has become a top point of focus. To hold itself to these new standards and to let the public as well as its shareholders in on some of its internal workings, Obsidian Energy has put together a Code of Business Conduct & Ethics, Disclosure and Trading Policy, Diversity Policy, Drug and Alcohol Policy, Environmental Policy, Health and Safety Policy, and many more policies that will guide it into a productive and profitable future.
See Also: http://www.ogj.com/articles/2017/05/penn-west-petroleum-moves-toward-changing-name-to-obsidian-energy.html