Obsidian Energy Rebranding and Strategies for the Future

Obsidian Energy is a company that deals with gas and oil production and is based in Canada. It produces about thirty thousand boe each day with the help of its high-quality machinery and the company’s team. Obsidian Energy is a result oriented company that is made up of a team of individuals who are disciplined and very passionate about what they do. They work with transparency and are accountable to the communities they interact with, their associates and shareholders. The company is even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).

 

 

Earlier this year, the company rebranded from Penn West Petroleum Ltd to Obsidian Energy Limited. This change of names was in line with redefining the company’s changes and what it was working towards achieving moving forward. The company is confident that this move was for the best as the worked towards a stronger and capable future. David French is the Chief Operating Officer and President of Obsidian Energy. The company has aligned its strategies to be in line with their goals as they work at continuously succeeding in the changing environment.

 

 

As a company, Obsidian Energy respects the people on the ground and this is why they constantly encourage anyone they work with to be mindful of others. They are very verbal and open about any concerns the residents may have about their operations and the impacts to the environment. Their operations are focused on conserving the environment and they adhere to the regulations put in place. Obsidian Energy takes the right processes in reclamation and abandonment of sites. They have provided a telephone number where any issues or concerns regarding their operations can be addressed.

 

 

The management team at Obsidian Energy ensure that their employees are well trained on the importance of safety in their line of work. The safety measures put in place take care of the employees, contractors and the people in the communities they work in. They have also put emergency contingency plans in place to safeguard anyone in case of an accident that requires immediate attention. Obsidian is committed to ensuring that all their work is within the set regulations in the industry. Furthermore, they conduct thorough training on any relevant parties to their line of work to ensure that the set policies and procedures are well adhered to.

 

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The Growth Obsidian Energy Company

It is intermediate-sized oil and gas producer. The company has a well-balanced portfolio of high-quality assets. The level of production has gone high over the past few years. It is after the company faced several challenges. The challenges were due to lack of oil market. The company has a disciplined staff with relentless passion. Everyone works towards achieving the overall goals of the organization. Initially, the company was known as Penn west Petroleum LTD. However, on June 26th, 2017, the company changed its name to Obsidian. The changes came as the whole group underwent several changes that affect every aspect of the business. After the changes, the company has re-emerged stronger to serve the people. Several people are happy about the significant development in the company.

 

 

Additionally, Obsidian Energy is much committed to making positive development to the company. They understand that the community matters a lot in the event of any organization. It is because; they get all their employees and the contractors from the society. Also, they encourage the contractors and the employees to have a positive interaction with the member of the community. Whenever an issue arises, they address the concerns in a positive manner. Since it is oil and Gas Company, there must be some impacts on the environment.

 

 

Due to this, the management of Obsidian Energy is committed to minimizing the effects on the environment. They ensure that there are proper site abandonment and reclamation practices. Once the environment is preserved, then there will be an appropriate relationship between the company and the community. Additionally, the company has a free number and an email that can be used to address any issue that arises.

 

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On the other hand, the safety of the workers is maintained. Safety is one of the integral parts of the Obsidian Company. Obsidian’s safety programs are aimed not only to protect the employees but also the members of the community. The company understands that serious accidents can occur in the company causing even deaths. Also, the environmental pollution can have far-reaching effects on the member of the society.

 

Source: https://en.wikipedia.org/wiki/Obsidian_Energy