Previously known as Penn West Petroleum, Obsidian Energy is an oil and Gas producing company based in Calgary, Alberta Canada. The company is intermediate-sized with high-quality assets that produce over 30,000 BOE on a daily basis. The company was previously a Canadian Royalty Trust for about 6years. Obsidian Energy gained a market peak Capitalization in 2008 which was approximately $9.5 billion. The company later converted to a conventional corporation from a Royalty Trust in January 2011. In 2014, The company underwent some major financial difficulties because of the drop-in prices of the crude oil. However, Obsidian Energy has had great financial success generally.
Obsidian Energy has a strong workforce of about 407 employees. The company manages to produce 28,000 barrels of oil annually. Most of Obsidian Energy oil and gas fields are spread across Alberta and they include Alberta Viking, Pembina Cardium, and Peace River Oil Sands. The company is pushing for more production quality production in the future to be able to meet the demand of its new and existing clients.
Obsidian Energy is led by David L. French who is the Chief Executive Officer and president of the company. David L. French has extensive experience of over twenty-five years in the oil and gas fields industry. He has been massively involved in the generation and advancement of oil and Gas in North of America and overseas. He was elected CEO of Obsidian in 2016 and has served the company ever since. David previously served as the Chief Executive Officer in Bankers Petroleum. He has also held other positions in different companies like the Apache Corporation based in Huston. He served as Vice President in the Business development; he also served as the regional manager of Apache in Calgary Canada.
David has also worked in McKinsey and Company, an administration counseling company that focuses on capital productivity and administration coupled with vitality company development. David Sheer hard work and commitment is most definitely what Obsidian need to move to the next level. The name Obsidian Energy had a unanimous approval from the shareholders, from the previous name which was Penn West.
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