Penn West Petroleum recently changed its name to Obsidian Energy, which is a Canadian oil and gas producer that is looking to grow its company over the next few years. The shareholders of the company were overwhelmingly in favor of the name change and are excited about the changes that the company is making to better serve the public and its investors. The CEO of Obsidian Energy, Dave French, commented that the new name was picked out because of the properties of obsidian, itself. Since it is a volcanic glass that can be shaped and made sharp, this is a metaphor for the new direction that Obsidian Energy will be heading in.
With a nicely balanced portfolio of valuable assets, Obsidian Energy can produce close to 30,000 boe every day. What many people don’t know before becoming involved with the company is the fact that they really care about the people and the communities that they work in and serve. To ensure this, Obsidian has put together the Community Matters program, which encourages its contractors and employees to connect and be open with people who live in the areas that it does business. Any concerns that residents or others may have are met with the greatest of care and an open mind so that problems can be met head-on. On top of this, the company has decided to take a new stand to minimize the impact that its business may have on the environment. This is done through its environmental program that focuses on making sure that sites are well taken care of before and after their work has been done, that resources are conserved as much as possible, and that communication with its stakeholders is a top priority. Click Here for additional information.
Currently, 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).
Obsidian Energy has gone many steps further to show they care by creating an Emergency Response Plan. This plan takes care of their workers, the public; at large, and the environment that the company works in. Any emergency that comes up will trigger the company’s emergency response plans (ERPs) and this will prompt Obsidian Energy to respond to it as quick as possible.