Obsidian Energy is a company based in Canada offering a range of energy-based solutions. The company was previously known as Penn West Petroleum but changed its name in the early months of 2017 as part of an image overhaul. The company has undergone numerous shift as a result of this, which has resulted in Obsidian Energy becoming a company that is stronger than it ever was before. The name change was carried out after a vote was conducted with all the shareholders of the company, after which the name Obsidian Energy was chosen for it. The name change has also affected the stock market situation of the company, and will now be operating under the acronym of OBE for stock trading purposes.
The name change came to the company after some unfortunate events hit the industry. With the image overhaul, the company is working towards a fresh start, so that they can once again cement their position as one of the more prominent oil and petroleum manufacturers in the country.
Obsidian Energy was first founded in 1979 and is currently operating out of its headquarters in Alberta, in Canada. Obsidian Energy is mainly involved with the production and distribution of oil and natural gas derivatives in the country. Most of the extraction operations that the company undertakes are done within the country of Canada itself. The company has several oil rigs in locations across the nation, especially in Alberta in the Western Canadian Sedimentary Basin. Being operational for such a long time, the company has played a major part in the oil and petroleum industry in Canada which is why they are considered to be a prominent name in the field. The company today continues to do what it does best, and provide natural gas and petroleum to various sources within the country. Check Out This Article.
Having spent as much time as they have in the industry, Obsidian has always had to innovate and continuously change the technology that they use to stay ahead of the competition. The company has always tried to improve themselves to be better than they were before and had always worked towards achieving an upward slope of progress.