Obsidian Energy, Penn West Petroleum’s New Face Making A Name for Itself

 In the oil industry and indeed the gas industry too, Obsidian Energy is credited as a company whose portfolio is quite awesome. With the assets base the company has so far, it has guaranteed a steady flow of income and satisfied customers. In order to enjoy competitive advantage, the company has spared no effort in engaging in entrepreneurial activities that have guaranteed liquidity for the company which operates in the ever changing gas sector. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.

 

Believes

 

Obsidian Energy’s success is built on the discipline and hard work of its employees. Apart from hard work, openness and accountability are also other values and believes the company holds dear. All stakeholders and the community are never kept in the dark about the operations of the company.

 

Name Change

 

Obsidian Energy changed its name in 2017 from its former title of ‘Penn West Petroleum’. The new name was thought to be best since the company was undergoing many changes. With the new name people expect and get better service and new products that are somewhat an improvement on the former.

 

At the heart of the changes made to the company was the reduction in human resource. By 2015, the work force had been thinned to 1000 staff only. Later, due to the ever-fluctuating prices of oil and gas, there was a further lay off of staff so that there are only 400 employees at the company presently.

 

Giving Back

 

Obsidian believes in the community within which it operates goes without saying. Through the ‘community matters program’, the company’s business is ever appraised to ensure it does not collide with the community’s operations and or affect the community in a less than pleasant way. Where there are some critical aspects that community members do not like about the company operations, the same are squared out by the ‘community matters program’.

 

The environmental program the company has, ensures that it does not affect the environment in a negative way. Being guided by the law, Obsidian Energy aspires to limit any negative effects drilling may have on the community and its environment. Conservation of natural resources is also at the heart of the operations of Obsidian Energy.

 

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See Also: https://globalnews.ca/news/3481168/penn-west-proposes-name-change-to-obsidian-energy/




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