Obsidian Energy can well be described as an intermediate oil and gas company. The oil and gas company is based in Canada. When it was established, the gas and oil organization was known as Penn West Petroleum Ltd and it has been carrying out their operation in Calgary, Alberta. In the early days, the firm was recognized as the sixty largest firms from Toronto Stock Exchange that is from 2005 to 2011. Obsidian Energy was Canada Royalty Trust. In 2014 crude oil prices fell significantly, and Obsidian Energy was in crisis, it was forced to sell some of its assets to reduce debt. The name Obsidian Energy was obtained on June 26th, 2017.
The gas and oil group did not only change its name, but the change of name also came with the change of the firm’s business operations. The management of the group took the change as an opportunity to define their organization, its expansion as well as future plans. The team has begun to experience changes in their growth as well as experiences. Obsidian Energy has created an environment that will enable them to deliver and produce quality services as well as products as they realize their goals to succeed in the oil and gas industry.
Obsidian Energy does not only think of how they can increase their profits and expand their portfolio, but the community responsibility is also part of them. Their mandate is to make a positive impact in the society in which they live and operate. Obsidian has a Community Matters program which is answerable for caring about the community in which their staff, as well as the contractors, operates. The oil and gas group take the accountability of communicating with the community about the impacts of oil and gas procedures. As they communicate openly with the residence, they also have another duty of making sure that the negative impact on the environment is reduced. Obsidian also has a safety program which protects the society, their staff, the environment as well as friends and families from the accidents that may occur. The management team of the organization continues to seek other safety measures. The oil and gas fields of Obsidian Company are located in one of the largest oil fields in Canada; Alberta.
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