When one of his friends suggested that he considers making a move into the financial world, Matt Badiali did not anticipate the success he would go on to achieve. He had built his career in geology with an undergraduate and masters degree in the field. He was doing his doctorate work when the suggestion was made.
Matt Badiali was to use his vast knowledge in geology to give advice to potential investors looking to venture into the field of natural resources. Given the dynamic nature of the resources, a solid understanding of how this comes about guarantees huge returns for any investor. He was on hand to offer this advice and the results were evident.
As more and more clients came on board, a need to expand his territory arose and Banyan Hill Publishing provided a way out. The publisher helped him give birth to Real Wealth Strategist, a newsletter that he uses to give relevant information to his growing client base. He currently serves as the chief resource investment expert of the publishing company.
Matt Badiali attended the Florida Atlantic University for his master’s degree after completing his undergraduate work at the Penn State University. He was an active consultant before getting into finance. He travelled to a host of nations where he interacted with different cultures that exposed him to the nitty-gritty of geological matters. Learn more about Matt Badiali at Crunchbase.
Matt Badiali recently predicted a rise in oil prices. He mentioned the stiff competition witnessed in awarding contracts, the turmoil in Yemen and the Venezuela crisis as some of the factors that would fuel the rise. Given that the oil industry faced numerous challenges very few investors heeded his call. True to his word the prices shot and those who paid attention are reaping big.
Electricity is also bound to take the place of fossil fuels according to Matt Badiali. The advent of a large capacity battery will mark the start of the inevitable change in energy consumption.
He encourages investors to take advantage of short-term declines. Many individuals shun these opportunities but those who buy such stocks tend to benefit greatly when the fortunes change. Other than his vast knowledge, he takes time to appreciate current market trends. His articles are spot on and his pieces of advice can be trusted.
Obsidian Energy went by different names such as Penn West Petroleum, Penn West Exploration as well as Penn West Energy trust, in its previous incarnations. At one time it had reached a market capitalization of nearly $9 billion, making it on the list of top 60 companies listed on S&P/TSX. Most of Obsidians oil and gas fields are in Alberta, on what is known as the Canadian Sedimentary Basin. This area is recognized to be one of the most petroleum-rich areas in the world. This year the company is expected to produce a little over 30,000 BBL/day.
By giving the company a new name, it also symbolizes a new set of values that will drive the company moving forward. These philosophies include implementing the latest technologies, more accountability, transparency with shareholders and a disciplined approach to the commercial and technical decision-making process. Shareholders will be happy to know that Obsidian has a sensible hedging strategy, good balance sheet, and assets that will keep the company strong during lower oil prices. Apart from these changes, Obsidian Energy made changes to the way they operate with the consent of their shareholders.
These include electing eight new directors and putting Ernst & Young LLP in charge of auditing for the following year. The eight new members will hold their positions until successors are appointed. Other matters that were put up for vote include executive compensation, approval for the name change, and approval for share capital reduction for accounting reasons.
The CEO of Obsidian Energy is David French who has many years of experience in the petroleum field. He joined the company in 2016 and prior to that worked as CEO of Bankers Petroleum LTD and proved his leadership skills by improving the growth of that company. Prior to working for Bankers Petroleum, he worked in various high positions in companies such as Apache Corporation and McKinsey & Co. Mr. French will continue Obsidian’s commitment to extracting petroleum products in a safe an responsible way. This includes employees, the environment and the communities in which the companies operate in.