When you think oil and gas, Canada probably isn’t the first thing that comes to mind. But it could be the third. With the third largest petroleum reserves in the world, Canada is a quiet juggernaut of the North American oil economy.
And one of the most innovative companies working in that sector must be Obsidian Energy.
Obsidian Energy is the reconfigured successor of Penn West Petroleum. Leaner and more focused than ever, Obsidian has streamlined operations under the experienced leadership of industry veteran David French, a recent addition. Mr. French joined the team in October of 2016, leaving a position as President and CEO of Bankers Petroleum.
Mr. French is joined at the helm of Obsidian by David Hendry at CFO and Tony Berthelet as vice-president for operations and development.
With Canada providing close to 43% of the United States oil imports, the Canadian oil industry remains a rich sector open for continued development. As the oil industry rebounds globally, and as new technologies make oil extraction easier, cleaner, and more sustainable, Obsidian has more than enough room to grow.
Under Obsidian’s young and determined leadership the company has launched new and innovative initiatives aimed at acknowledging the historic risks of petroleum production and working in an integrated way with local communities to ensure safe and environmentally friendly methods and standards. Obsidian has dedicated itself to a position of corporate transparency and responsibility.
With a sustainable development plan framed by a dedication to pragmatic, practical, and modest growth Obsidian is positioned to climb the industry ladder. With a new corporate culture, Obsidian’s 30,000 barrels a day can’t help but multiply. Visit This Page for additional information about the company.
Ultimately, Obsidian is determined to become a new model of middle-sized petroleum company and hopes to set a standard emulated industry wide.
And now the former Penn West Petroleum may just have the leadership and confidence necessary to not only meet, but exceed that goal.