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Obsidian Energy

Obsidian Energy in a mid-sized oil and gas producer. Crafted around a highly productive portfolio the company produced nearly thirty thousand boe per day on an annual basis. The company is all about discipline and bottom line results. The passion and the entrepreneurial spirit leads the company’s management atmosphere. The companies strive for accountability to both its shareholders and to the community at large. That should be great for shareholders to hear that. The same for the communities in which the company operates. With the drive to be successful there is no doubt that the company is and will be for some time. The company was a Canadian Royalty Trust (CANROY) and was even among the sixty most prominent firms in the Toronto stock Exchange.

 

David French who has recently become CEO of Obsidian Energy has already established for himself a clear cut and long-lasting legacy with the company. He has taken the tough duty of restructuring the company from the bottom to the top. Reorganizing the company has allowed it to become more efficient in its operations. The streamlining of its workers has allowed the company the ability to maintain a stable employment of three to four hundred workers. He has also managed to cut the company’s enormous debt from nearly three billion dollars to a small amount of just under three hundred ninety million dollars. That is an amazing achievement that everyone should be proud of. In addition to all of these amazing achievements David French set out to do one more thing. To change the companies name. He said that the company no longer resembles the old Penn West Petroleum, so it should be reborn as something out. He was able to when over an amazing ninety two percent of the shareholders in his request to change the company name. Obsidian Energy was chosen. Obsidian, after the volcanic glass that can be sharped and honed.

 

David French is not new to the oil and gas scene. He has previously been the President and CEO of Bankers Petroleum Ltd. He has also worked in management or consulted for companies such as Apache Corporation and McKinsey and Company. David French also holds a Bachelor’s Degree and a MBA. I don’t think that Obsidian Energy could have gotten a more qualified person to head the company. Visit This Page to learn more.

 

 

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