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Obsidian Energy: Leading The Fuel Industry Into Tomorrow December 16, 2017

Our vehicles and assorted machinery all need large amounts of fuel to keep them running at peak efficiency, which is precisely the business Obsidian Energy finds itself operating. The Canadian oil and gas producer is both experienced as well as knowledgeable in the field, having produced fuels at high volumes with great success for what is now several years. The company strives to please both prospective customers and longtime shareholders alike with an informed, yet flexible, operational strategy that aims to keep the business running as smoothly as the vehicles its product fuels.

Things haven’t always been so cut and dry for Obsidian Energy, however. This past June, the company underwent some serious changes: For starters, it changed its name. Previously known as Penn West, the company changed its branding to suit better the service it seeks to provide, as well as to present its operations more accurately. Obsidian doesn’t deal purely in oil and gas: it also produces more modern fuel alternatives, such as natural gas. Ultimately, the name change was met with praise and approval from company executives, employees, and shareholders alike. In addition to its new branding, Obsidian’s stock symbol has become “OBE’.

 

The transformation from Penn West Petroleum to Obsidian Energy has been a challenging journey for the company. It can be seen as a new start of sorts, or a transition into a new era of operations for the business. The reasoning for the change is undoubtedly complex, but it can mostly be attributed to the operation wanting to serve its three most sacred principles better.

 

Those principles are as such: Disciplined technical and commercial decision-making, relentless pursuit of progress, and transparent efforts to appease its shareholders and community. Obsidian Energy has an exceedingly positive outlook in regard to its future, in addition to these positive principles. According to a statement released by BoReport.com, Obsidian Energy is confident it has strong assets with which to proceed in this new space. In addition, they have also developed a prudent hedging strategy that has the potential to yield enormous results, even when operating in low-cost environments. Obsidian 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).

 

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