Obsidian Energy, A Re-branded Oil And Gas Provider

Obsidian Energy is a medium-sized gas and oil producer with a stable portfolio of first-class assets producing approximately thirty thousand barrels per day. The high-quality assets and the organization developed around them offers the company the right platform to deliver net income results and an innovative spirit that enables them to succeed in the developing industry. The company is based on discipline, persistent passion in what they do, and firm accountability to their partners, shareholders and the communities in which the company operates.

 

Obsidian Energy, formerly known as Penn West Petroleum, has strategies in place to pursue reasonable growth over the next few years with their spending budgets firmly tied to the price of gas and oil. The chief executive officer of the company, Mr. Dave French said that the firm selected the name since obsidian is a volcanic glass that occurs naturally, and it can be refined and honed.

 

The production growth of Obsidian Energy in 2017 is assisted by a ninety percent carry of operation costs and capital expenditures with its Peace River maneuvers. The carry is anticipated to end in 2017, and this will downgrade production development prospects by roughly 6 percent at several oil prices after 2017. The cost to book value and stock value looks promising, but it is affected dramatically by the assumptions of oil prices used for reserve valuation and impairment tests.

 

These assumptions incorporate seventy dollars of oil in 2019, which is relatively optimistic. However, forty-five to fifty-five dollars of oil is a more probable range because of the high production growth which is at fifty-five plus fat. Obsidian Energy is presently priced at an average of forty dollars long-standing oil nonetheless, and it can have approximately double upside with fifty-five longstanding crude. Read More On This Page.

 

According to Dave French, Obsidian Energy is positioned correctly with high-quality assets, well-balanced portfolio and a practical strategy which will enable it to set an incredible standard in performance even in low-priced environments. However, during its Analyst Day presentation in June 2017, Obsidian indicated that it could produce roughly six to seven percent compound production growth annually between 2017 and 2021 at corresponding gas and oil prices.

The Expectations For The New Obsidian Energy Company

Obsidian energy is one of the organizations dedicated to changing and revamping the energy industry. Formerly known as the Penn West Petroleum Ltd., it runs on the core values of the production of a well-balanced range of high-quality assets. The move by the company to change its name was for the sole purpose of rebranding.

 

The organizational structure, as well as the assets by Obsidian Energy, have been made to create a proper platform for providing the ultimate results. The purpose and entrepreneurial spirit in the newly restructured company allow the company to stay afloat in the evolving industry. Obsidian is well known for its relentless passion for the work they do. They have the determination of accountability to the partners, shareholders as well as the community they operate in.

 

The decision to change the companies name has made a significant change and revamp to the company with the expectations of a better, leaner and transparent company. The changes were not in the name only, but also in the organizations work structure within. The changes are visible in the exponential growth of the business immediately after the change. Click Here For More Info.

 

With the new start of the Obsidian Energy Company, comes in the new principles that will help in the running of the company. Technical discipline and commercial decision making, for building and protection of the enterprise value, the unrelenting quest of progress and novelty. Integrity and transparency with the relevant parties of the company are also one of the key focuses.

 

One of the expectations that Obsidian Energy has for its future is the growth of the business through a tight budget that will be a tightly closed budget, tied to the gas and oils. The growth is expected to be visible within years. The company is expected to reach its growth potential despite it being seen smaller. Its new restructuring is aimed at scaling the company’s profit sky high.

 

With the change in the globe, there is always the expectation of better. With this in mind, obsidian’s energy revamp brings transparency and integrity that’s expected by the shareholders, partners and the community around the company’s environment.

 

See: http://boereport.com/2017/06/26/penn-west-changes-name-to-obsidian-energy-ltd-and-announces-voting-results-from-the-2017-annual-and-special-meeting-of-shareholders/