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

 

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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.

 

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