Once in a while there is a company that rises like a Phoenix from the ashes and shines through brighter than ever. This is the case with a Canadian company called Obsidian Energy. As a Canadian oil and gas producer this company is a middle-sized company, there are bigger companies and smaller ones, but, Obsidian is certainly holding their own in this industry. Upon first glance it looks like the company changed their name, but, to be honest, they changed their whole company structure and learned from past experiences both their own and others in the industry. As a result, they emerged into a much better and safer company.
When the company remerged, it was like a new chapter was being created from what was left. The good ideas and foundations were kept and the old an outdated ideas and concepts were rebuilt from the ground up. As a company Obsidian emerged much stronger that before. They learned to measure growth and put their focus toward a brighter future. One thing they have done is to take steps to make sure that their drilling operations are much safer for everyone. This includes the company, the people who are running the rigs and drill sites and the people in the community where the site is located. For Obsidian Energy putting a safe drilling process together is just a great idea. The company wants to get oil and gas from the site, sure, but, they also want everyone safe. As a result, they fill in their sites and make sure that they are in great shape when they leave them. Going above and beyond what many others do industry wide is just a great example of how Obsidian Energy has become a much better company over all. See This Page for additional information.
Since the company’s restructure from the old Penn West Petroleum Ltd. They are doing well in the financial areas as well. The numbers released in the company’s reports speaks for themselves. All in all, it is safe to say that Obsidian Energy is more concerned about people first and oil and gas second. This is a great start for a company who is bound for a successful future.
The company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).