Obsidian Energy is a natural gas and oil production company headquartered in Calgary, Alberta, Canada. The company previously operated under the names Penn West Energy Trust and Penn West Petroleum. Its stocks are publicly-traded on the Toronto Stock Exchange Market.
Penn West Petroleum underwent several changes before being renamed to Obsidian Energy on June 26, 2017. These changes affected all business aspects of the firm in a positive way. They also enabled Penn West Petroleum to redefine its operations with a view of the future. Today, Obsidian Energy strives at excelling in the Canadian oil and gas industry by learning from past experiences.
With a production capacity of 30,000 bowls per day, Obsidian Energy is regarded as a medium-sized company. It has a balanced portfolio of profitable assets across Alberta. Obsidian Energy manages these assets with a goal of delivering bottom-line results. The firm seeks to use this asset to succeed in the evolving oil and gas industry.
The company obtains natural gas and oil from the Western Canadian Sedimentary Basin, which is based in Alberta. The basin also ranks among the largest petroleum reserves globally. Obsidian Energy’s exploration efforts are centered on three areas in Alberta. These include the Alberta Viking, the Pembina Cardium, and the Peace River oil sands.
David French heads the management team of Obsidian Energy as the CEO and president. Prior to joining the firm, French worked with companies like Apache Corporation, McKinsey & Co, and Bankers Petroleum. His expertise lies in law, mechanical engineering, and management. David Hendry is also part of the firm’s management team. As CFO, he has over 25 years of experience in public accounting and finance. He works alongside Tony Berthelet who serves in the capacity of VP of development and operations. View More Information Here.
Other members of the management team of Obsidian Energy include Andrew Sweerts and Mark Hodgoson. As the VP of production and technical services, Sweerts joined the company back in 2014. He has over two decades experience in overseeing joint venture partnerships and trading activities. Hodgoson, on the other hand, serves in the capacity of VP of business and commercial development. Hodgoson’s expertise lies in investment banking, corporate planning, and crude marketing.