Based in Canada, Obsidian Energy specializes in offering oil and petroleum services to clients and customers all over the country. The company was originally known as Penn West Petroleum and first came into the business in Alberta in 1979. As soon as the company was founded, it set up a number of rigs in locations throughout Canada. Most of the oil rigs that are owned by the company are located through the western strip of Canada. Currently, Obsidian Energy is being led by David French, who stands as the President and CEO of the company.
One of the biggest recent developments to the company was the name change that it underwent. The change was a result of a much-needed makeover that the company was experiencing. During the oil crisis of 2014, the company had to undergo a number of changes in its structure and functioning, so as to still be able to stay afloat in the economy. These changes had a huge impact on the workings of the company as a whole, which is also what led to the name change taking place. The name change was a part of a package that also changed the logo of the company, and also the stock denotation.
The name change took place only after several members of the board of directors requested it. A vote was passed around among the members for the name, and Obsidian Energy was selected as the name that they would thereafter be known as.
One of the defining characteristics of the services that Obsidian provides is the implementation of the latest technology to better the production of oil and natural gas. The company implements the very best industry standards so that they can improve the services that are offered, and so that they can be more efficient in their undertakings.
Today, the company stands as one of the foremost in the oil industry in Canada. The company has surpassed its competitors to come forward as a force to be reckoned with in the oil and petroleum industry and will continue to strive to offer nothing short of the very best to all of the clients who depend on them. See This Page for more information.
The company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).
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