This article will hopefully provide some valuable information about Obsidian Energy, which is from the country of Canada. Obsidian Energy is a gas an oil producer that’s intermediate sized. It has a well-balanced portfolio of high-quality assets which produce a rough amount of 30,000 boe every day. On the date of Monday, June 26th, 2017, this company went through a name change. Before it was changed it was originally Penn West. Significant changes had been undergone.
Obsidian Energy has its company that is based on many characteristics. Some examples are relentless passion for the work done, absolute accountability to shareholders, communities and partners operated, and discipline. When the company was called Penn West, important changes happened to the company. These were changes that affected every aspect of the business and had led to redefine how and where the company grows from its current state. The company has become leaner, stronger, and more capable than ever before. This is as a new exiting path is head down as Obsidian Energy.
This whole name was changed to Obsidian Energy after some problems have been survived. This was after a debt crisis, accounting scandal, and debt crisis, and commodity price cash over the last three years. David French the new CEO of the Calgary gas an oil company says Shareholders will be needed to approve the change. This is because the company doesn’t longer resemble the “old Penn West”.
Penn West in July 2014, gave the announcement that hundreds of millions of dollars in expenses became classified improperly. This forced the financial reports of the first quarter of 2014 and all of 2012 and 2013 to be restated. Click Here to learn more.
David L. French is the Chief Executive Officer and President of Obsidian Energy. French joined the team on October 2016. Before this job French and served as the CEO and President of Bankers Petroleum Ltd, a Calgary-based publicly-traded gas and oil company. it has operations in Southeastern Europe. He has held an MBA from Harvard Business School and a Bachelor’s degree in Mechanical engineering from Rice University.