Category: Business

Obsidian Energy Gas And Oil Organization


Obsidian Energy which was previously called Penn West Energy Trust, Penn West Petroleum and Pen West Exploration Ltd. Obsidian Energy is a company that is founded on resolute responsibility to its stakeholders, passionate to the work it does and disciplined. It is a medium Canadian company that deals with natural gas and oil production.

 

 

Obsidian Energy is situated in Calgary in Alberta. It was founded in the year 1979.The Chief Executive officer of this company is called David L.French. He joined the company in October 2016.David Hendry is the Chief Financial Officer in Obsidian Energy. He joined this company in April 2015 as a vice president of Finance.

 

 

For some time, Obsidian was one of the S&P/TSX 60 biggest organizations on the Toronto Stock Exchange. From the year 2005 to the year 2011, Obsdian Energy was a Canadian Royalty Trust. It reached at the top market capitalization in the year 2008 with approximately 9.5 billion US dollars. Get More Info Here.

 

 

Obsidians gas and oil fields are situated In Alberta .Alberta is one of the areas with the world biggest petroleum reserves. Production is done in three major areas in Alberta which are Peace River oil sands, Alberta Viking and Pembina Cardium.

 

 

The company changed its name from Penn West Petroleum Ltd to Obsidian Energy on June 2017.Obsidian Energy has undergone vital changes that have affected every factor of its business. These alterations have made the company to restructure and know where it goes from there. The organization is determined to reduce the impacts of its operations on the surroundings. Its environmental forums focus to exceed and meet all environmental controls, resource conservation and reclamation practices.

 

 

 

Since June 2013 Obsidian started lowering its workforce from 2350 workers to 1000 workers. Due to decrease in oil prices in the year 2015, the company announced cuts of 400 fulltime workers and contractors from the organization Headquarters. In the year 2014, the company stated that hundreds of million dollars in costs had been classified improperly. This forced it to repeat its financial reports for the year 2012, 2013 and quarter of 2014.Obsidian Energy embarked on selling assets that permitted it to lower net debt from 3 billion dollars at the end of the year2013 to 384 million dollars as of March 2017.This company is now a smaller firm with less production of oil and few workers.

Source: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

The Role of Obsidian Energy in Canada


Obsidian Energy is an intermediate-sized oil and gas producer company with a well-balanced portfolio. It has got high quality asset that produces about 30,000 boe per day. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff

 

Formerly, Obsidian Energy was Penn West Petroleum Ltd. It was later changed due to the high number of votes that favored the change of the name.

 

David French, the CEO of the company asked for the approval of the change of the company’s name. Obsidian Energy Company aims at impacting quality products and services by promoting relentless passion for the job the it does, discipline and accountability to its stakeholders, partners and the surrounding community.

 

Objectives

Obsidian Energy is entitled to making a positive impact in the communities in which it operates. The community matter program is what enables them to carry out their operations respectfully and responsibly. This reminds the company and its workers to communicate openly to the area residents and mitigate the effects that can be associated with oil and gas production.

 

Obsidian Energy is equally committed to reducing the effects of its operation to the environment. Its environment program aims at meeting or exceeding all environmental regulations, resource conservation, and reclamation practices. The company has been at the forefront of advocating for sustainable energy production in North America and abroad.

 

Achievements

As of Aug. 9, 2017, when Obsidian Energy announced its second quarter financial operational results, it is evident that

 There has been continued high volumes of production

 Operations funds flow reflects strong sales prices across all products

 The company has really contributed to the welfare of all parts of the United States as it is one of the strongholds of the currently flourishing economic development

 

Find Related Information Here.

 

There are several oil and gas production companies. However, Obsidian Energy stands out as a one of a kind company that not only focuses on production and sales but rather also on ensuring environmental safety for the community in which it operates.

 

Obsidian works keenly in maintaining and building relationships with their external stakeholders. It also provides training and education for its contractors and employees, ensuring they understand and abide by regulation.

 

More On: http://www.marketwatch.com/investing/stock/obe/news

Sawyer Howitt, the Ambitious Entrepreneur


Most teenagers don’t have even a slight idea of what they want to do and achieve in life. Most of them are still struggling to find the purpose for their lives, however, just like other cases, there are always exceptions. Born in the year 2000, Sawyer Howitt is one of the youngest affluent entrepreneurs in the whole world. However, so many things remain unknown to many people about this young, savoir-faire businessman.

Sawyer is the project manager of Meriwether Group, a business development company located in Portland. Howitt oversees most of the projects that the firm does. He looks up to David Howitt, his father, one of the most prominent entrepreneurs in the globe and a proprietor with Meriwether’s Group. Sawyer works with his father most of the times, and this has enabled him to grow tremendously. When both of them are free, they enjoy taking photographs and listening to music.

Sawyer Howitt is a senior student in his second semester who has centered his studies, efforts, and internships in business and finance. Integrating analytics and artistry assists him in driving his work. At his young age, Sawyer has the potential to comprehend the financial and operational requirements of the business, while still realizing a brands ambiance, resonance, and correlation to the consumer. From complicated spreadsheets and shaded reports to filing and taking notes during crucial meetings, Sawyer is up for the task since there’s no job too small or too big.

There’s nothing as splendid as an ambitious young man who is not only committed to making his life better but also that of others. The scale of Howitt’s experience is varied and wide-ranging. In spite of his age, he has led various philanthropic groups targeted at supporting causes such as funding education and upholding the rights of women. Sawyer also guides international ethnic studies groupings, assisted in mentoring distressed youths and engaged several administrative internships. Sawyer was also an employee of Kure Juice bars where he learned the crucial job of customer service.

Sawyer works very hard, but it doesn’t mean he doesn’t take some time off from work. All work and no play is not his way of life. During his free time, Sawyer enjoys playing racquetball. He is very competent in it, and he usually plays for the Oregon Racquetball Club. Sawyer has achieved a lot irrespective of the fact that he has just completed his high school. So, age is never a limit. Read more: https://www.behance.net/sawyerhowitt

 

The New Phase of National Steel Car Pioneered By Gregory Aziz


Much is stated about the success and achievements of many people, but little is known of their troubles and challenges along that journey culminating in their victory. Well, truth be told; the journey to success is not always a smooth ride. To achieve, you must overcome hurdles and barriers you will encounter along the way. The success story of Greg James Aziz at National Steel Car is not different. He admits that getting the company to its current operation levels has not been a walk in the park, but he stands head high among the prominent figures that have propelled it to immense accomplishments. Read More On This Page.

 

National Steel Car is a railway freight and tank cars manufacturer. It has its headquarters located in Hamilton, Ontario. It has been in active operation for over 100 years. Over the years, the company has been quite an influential figure in automotive manufacturing that focuses on the production of high-quality units. Its distinct operation strategies are built on a strong foundation of excellence, setting it apart from other competitors.

 

Among the spear-heading factors in National Steel Car’s success is its exceptional and resilient leadership. The company is graced with a formidable team of influential leaders in all levels of production. Presently, it is under an actualized leadership of Greg Aziz, the Chief Executive Officer, Chairman to the Board, and also the firm’s President. For over 23 years now, he has been at the company’s helm and has managed to bring together outstanding talents from the field of engineering and technology. Utilizing their vast experience and unique skills, these experts have transformed National Steel Car into a great force in the industry, enabling it to accomplish even the most nerve-wracking projects.

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Most businesses aim at growing and developing over time, and so does National Car Steel under the able chaperoning of James Aziz. The company has extended its operations to a global scale and exuded both excellence in engineering and manufacturing. Besides, the firm’s unique designs are unmatched, and the global market salivates for its products as they meet the laid-down quality standards. This explains the firm’s dominance in Northern America and worldwide spread of its consummate automotive power.

Gregory J. Aziz is a tested and proven world leader. Having attended his higher-level education at Western University and earned a Bachelor’s Degree in Economics, he joined National Steel Car. Here, his efforts have been inspirational through the integration of the firm’s strongholds that has gone a long way in shaping its amazing feats. He has bestowed upon it a sense of direction and purpose, making it the leading railway freight and tank car manufacturer.

Source: https://www.bloomberg.com/research/stocks/private/person.asp?personId=39124620&privcapId=35787198

A Closer Look At Greg Aziz Role In Building National Steel Car


Gregory James Aziz is the CEO and president of National Steel Car a leading manufacturer of railroad freight. He was born in 1949 in Ontario London and later joined western Ontario University where he perused economics. Greg James Aziz worked at his family business for some time before moving to New York in the late 1980s where he worked in different investment banking segments. It’s during this time that Gregory J Aziz managed to organize himself and buy national steel. He worked hard to ensure that the company did match up with the manufacturing capabilities and by 1999 he had moved the company’s manufacturing capabilities from 3500 to 12,000 cars.

Aziz’s relentless pursuit of excellence has now made the company a leader in manufacturing sector building thousands of railroads each year. The company attributes its success to the people who have supported them throughout their journey. What’s more, national steel hasn’t attained its desired success, and that’s why it’s continually trying to push the bar a notch higher. Nevertheless, you can be assured that you are getting high-quality products since most of their products meet the AAR requirements.

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National Steel Car is also not only ISO certified, but they have received different awards including the annual TTX SECO award for the tenth time in a row. They also value customer loyalty, and this has helped them build strong foundations when it comes to partnerships, trust, and understanding. Whether you are a new partner looking to join them or a satisfied client looking to expand your fleet, national steel car will always work with your challenges to help you get the railroad you desire.

AutoRack is one of the company’s railcars that offer excellent service to your delivery needs. In fact, it’s easy to open given its full clear opening and tri-fold end closures. It also features a good seal with most of its hardware galvanized or stainless steel. The lightweight door surpasses the M-941-11 and AAR M-941-98 specifications with the racks cross-brace design featuring capped tube end that helps to stabilize the rack structure in a bid to increase its life cycle.  See This Page for more information.

There is also the coal design that features rugged styling as a result of the stainless steel, carbon steel, and hybrid construction. The center-sill design features a fastened body that is over thirteen and a half feet tall and fifty-three feet long which makes it a vast coal car. It can operate on a gross railroad of about 286,000 pounds with a hundred-ton truck that features a ten by 12 braking system.

 

See Also: https://www.steelcar.com/Greg-Aziz-welcome

Fueling Economy With Obsidian Energy


Obsidian Energy is a highly ranked Canadian based company that produces natural gas and oil. Being located along western Canadian sedimentary basin one of the world’s largest petroleum reserves, the high end equipped company produces an average of 30000 BOE per day. Before it rebranded to obsidian energy on 26 June 2017, the company was initially known as Penn West Petroleum Company.

 

 

The Company was stricken by crude oil prices fall in 2014, which significantly led to re-establishment and selling of majority of its assets for the following years to reduce its debts. These changes led to a restructuring of the company, based on some new pillars that were meant to make sure it is back to its best. It majored on a constant pursuit of progress, liability, and transparency to the shareholders’ efforts and any other parties they were in business. The company also focused on safeguarding its enterprise value by discipline and decision-making.

 

 

In 2017, the new CEO David French suggested a new name for the company that would no longer sound like the old one and which would relate to a naturally occurring volcanic glass and hence they suggested the word Obsidian.

 

 

Currently, the company operates in three places around Canada; Alberta Viking, Cardium and Peace River, where its vital development assets are situated.

 

 

Obsidian Energy has some responsibilities, which include health and safety community and environment and corporate governance. These responsibilities help the company to mitigate that impacts resulting from the production of oil and gas.it ensures the community around its operation and its employees are far from far-reaching effects like accidents.

 

 

Some of the programs that help Obsidian Energyto reduce the risk of funds is hedging. Hedging concentrates in crude oil and natural gas, which the company regularly updates the prices on their website as they fluctuate. Learn More Here.

 

 

In summary, Obsidian Energy has found to maintain a positive result after restructuring to a small-scale intermediate size company of oil and natural gas production. Their principles have held them well towards achieving their goals in the evolving world maintaining them top at top 100 companies in the Canadian energy industry.

 

See Also: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

Gregory Aziz A Quintessential Visionary Of Strength, Determination, And Success


As the Chairman and Chief Executive Officer of National Steel Car Limited (NSC Ltd.) Gregory James Aziz is reputed to be a man of strong determination, with high ambition, and a progressive leadership style. He began honing the work ethic, management skills and leader characteristics that would pave a path to his current career while working for the family business.

 

Upon earning a degree in Economics from Western University in London, Ontario, Canada Greg Aziz began working at his family’s wholesale food business, Affiliated Foods. He spent nearly a decade learning all the idiosyncrasies of wholesale. While there he developed a desire to broaden his horizons beyond the wholesale food industry. He decided to take advantage of several opportunities availed him to pursue his aspirations as an investment banker in New York City. The vast amounts of expertise gained over the course of his tenure emboldened him to test his mettle as an investment banker with the purchase acquisition of the Dofasco subsidiary National Steel Car Limited in 1994. In times past NSC Ltd. was a leader in the railcar industry but had been in a state of decline since 1990. The purchase was a risky one, but Aziz saw the potential and possessed the means to restore it to its former glory.

Greg James Aziz envisioned a transformation for National Steel Car that would build on the company’s 100-year-old foundation of engineering capabilities and team building. Aziz’s revitalization plan included an infusion of innovative technology and processes, extensive human and capital investments, along with product diversification to increase its’ competitiveness in the market. By the year 2000, National Steel Car Ltd. began to reap the benefits of these changes.

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Under the leadership of James Aziz, National Steel Car more than tripled its production capacity from 3,500 to 12,000 railcars, simultaneously increased its employee base from 600 to 5,000 people, and regained its market competitiveness. Today, National Steel Car Limited is a North American freight car engineering and manufacturing giant. It is a thriving competitive global exporter of a wide array of freight cars and services. Read More On This Page.

Gregory J Aziz is also committed to giving back to the community of Hamilton, Ontario. Both personally and as a corporate leader, he contributes to numerous charity organizations and local enrichment programs, in addition to conducting annual corporate food drives. Greg Aziz reflects true character and leadership as a CEO and community member.

Reforms That Led To Creation Of Obsidian Energy


Obsidian Energy Ltd is an energy company that specializes in petroleum products, oil, and gas. The term “obsidian” tells of its willingness to grow and transform with the changes in the fast-paced industry. With its high-quality assets and an entrepreneurial spirit, OBE promises investors a value for their money. However, it enters the market not as a new company but as a reformed Penn West Petroleum Limited.

Reason for Reforms

Formerly as Penn west Petroleum Limited, Obsidian Energy was one of the largest mid-size enterprises in the petroleum sector. It produced over 135,000 barrels per day, employed more than 1400 people, and had nearly 180 million shareholders. For the past four years, however, accounting scandals and high debt levels almost led to the company’s closure.

Surviving a crisis

In 2014, the firm’s debt was $3 billion. Through assets sales, Obsidian Energy reduced the debt by nearly 90% to only $384, million. In 2016, the firm settled the accounting scandals that had led to costly investors lawsuits. As a permanent solution to its woes, the shareholders decided on an entire overhaul in the organization’s leadership and operations. Get More Info Here.

Targeted Reforms

From the beginning of 2017, Obsidian has undergone several target-specific changes. The production level was cut down to 30,000 barrels per day. As a result, the number of employees was reduced to only 300. Even more, it narrowed its focus from 30 production areas to just four.

Shareholders take a stand

For a complete transformation, the management of Penn West Petroleum put together a 6-point resolutions proposal. The six resolutions were geared towards avoiding the previous crisis and most importantly, redesigning the company’s course of action. On the 26th of June 2017, the shareholders took their stand on the proposed changes. Over 92% voted in favor of each resolution.

Change of Name

Changing the company’s name from Penn West to Obsidian Energy was the fifth resolution on the proposal. Just as Obsidian, the firm was taking a dynamic entrepreneurial approach in its organization and operations. Other decisions included the appointment of Ernst & Young as the firm’s financial editor and election of 8 new directors.

Gregory Aziz, CEO and President of Railcar Company; National Steel Car


Gregory Aziz, otherwise known as Greg Aziz is the CEO of National Steel Car. He was born up, raised and grew up in London, Ontario. He went to College and University in Ridley College and the University of Western Ontario respectively.

 

Gregory J Aziz graduated from the university at an early age. He joined his family’s company, Affiliated Foods in 1971 with the hope of not only gaining experience with both working with and running a company; but also putting his expertise in Economics to field practice. Affiliated Foods has for over 16 years been the leading importer of fresh foods.

 

portrait He, later on, sought opportunities at banking institutions in New York between the 1980s and 1990s. There, Gregory Aziz got to practice more of his career, and he also accumulated wealth. The dream of owning a company grew in him, and he also sought to see it to fulfillment.

 

In 1994, James Aziz purchased National Steel Car from Dofasco. He aimed to transform the company and make it grow and thus extend its bounds and services to the rest of North America.

 

1The challenge that he initially faced when running NSC was the meager workforce. But Greg James Aziz fixed this by increasing the number of employment rate per year to 3,000 from the initial 600. This led to an increased labor force, and thus the production rate increased tremendously. By 1999, the company was already manufacturing nothing less than 12,000 cars annually.

 

These changes did not miss recognition as National Steel Car was mentioned as the winner of TTX SECO annual award, in 1996. It continued to win the award, year after year with consistency. National Steel Car was also named the only railroad freight car manufacturing and engineering company to net the ISO Certification. It has also won this certification, year after year with recertification. Find More Information Here.

 

Gregory James Aziz had a dream to own a company, and he did. He then had a mission to transform the company and make it a North American giant, something he also achieved. Here is one of the greatest leaders, as running companies is concerned. Greg Aziz has managed National Steel Car with professionalism and expertise.

 

National Steel Car has for many years been of service to not only the Hamilton community but also Canada. The company funds various charities and holds Christmas parties yearly for its employees. Greg and his wife, Irene also support the community by providing funds for different activities.

 

The partnership of U.S. Money Reserve with Austin Disaster Relief Network in aiding the Hurricane Harvey survivors


It is worth acknowledging the recent announcement of U.S. Money reserve in line with partnering Austin Disaster Relief Network (ADRN). The latter refers to an institution that is non-profit making, and its service is alongside relieving the survivors from the severe effects of the Hurricane Harvey.

There exists a couple of services offered by ADRN. The ones that U.S. Money Reserve finds interesting include their immediate assistance regarding finance, their care both spiritually and emotionally as well as the emergency related to housing transportation.

At the moment, U.S. Reserve coordinates a relief fund through which all the donations received moves directly to ADRN. They are meant to address the immediate and emergent requirements of the survivors. To intensify donations and raise funds present to gather for emergency reliefs, the Reserve intends to match the contributions of YouCaring, done in favor of ADRN’s relief fund of Hurricane Harvey, to as high as $100,000. The plan is that the donation funding progresses throughout September.

In the view of the Reserve, the catastrophic storm affected a coverage quite close to its home. It is because it affected the entire Texas Gulf Coast area thus affecting some of the employees and other customers of the U.S. Money Reserve. Austin, Texas is the coverage in which the firm’s headquarters is based. Additionally, the other offices of the Reserve are present at Lumberton and Beaumont. Read more: US Money Reserve | Facebook

It is remarkable that the Houston society became of great help to the firm at its early phases of development. The decision of the company to partner with ADRN, therefore, serves as an avenue of giving back to the Houston society. The facilitation of its process can be done through making donations whenever convenient.

The founding of the U.S. Reserve happened in 2001. It is from then onwards that it has undergone an enormous growth into being among the global leaders in the distribution of the legal-tender items. Such include gold, platinum, and silver. The products are issued by both the government as well as the foreign government.

 

At the time of establishment, the objective was to give direction to customers on ways of making purchases of physical metals that are precious. With service provision duration exceeding fifteen years, about four-hundred thousand clients are contented and already trusts them.

The benefits by such clienteles are as a result of the outstanding experience possessed by its staff concerning numismatics, coin research, as well as getting the best products within the available market.

Learn more about US Money Reserve:

http://finance.yahoo.com/news/u-money-ceo-angie-koch-121500601.html
http://www.prnewswire.com/news-releases/us-money-reserve-encourages-visitors-to-explore-its-new-website-and-e-commerce-coin-catalogue-300225181.html