For decades, Obsidian Energy has been a vital part of making individuals comfortable in Canada with its oil and natural gas products. Obsidian Energy is a Canadian oil and natural gas business in Calgary, Alberta. Over the years, Obsidian Energy has been taking strategic moves to ensure their stake in the oil and natural gas market. At one time, Obsidian Energy had assets in the billions with substantial BOE. Barrels of oil equivalent is used to measure the amount contained in a barrel of crude oil. Obsidian Energy stock has been traded on the Toronto Stock Exchange as well as the New York Stock Exchange. Formerly, Obsidian Energy was known as Penn West Petroleum with oil reserves in and around Canada.
David French, President, and Chief Financial Officer was appointed in 2017; French made some decisive moves which has propelled the company forward. French shifted focus to 3 targeted areas with proven success. The Cadmium segment of Obsidian has received increased focus due to its financial success. French is dedicated to Obsidian Energy being accountable and transparent as it relates to finances and regulations. Under French’s leadership, Obsidian Energy has diversified its portfolio in order to attract investors which is critical for growth. In 2017, Obsidian Energy shareholders approved a measure which appointment auditor from Ernst & Young LLP, an accounting firm. Obsidian Energy shareholders also approved guidelines pertaining to unit shares, executive compensation. The shareholders also approved the name change which was most significant in the rebranding process. The rebranding has had far-reaching effects within Obsidian Energy.
As Obsidian Energy moves ahead, French is confident their hard work and dedication will solidify their legacy of excellence. Obsidian Energy has made commitments to their employees, shareholders, and communities, and they are striving each day to fulfill those commitments. French is determined to lead Obsidian Energy into the future.
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