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Obsidian Energy’s New Model January 22, 2018

Obsidian Energy is a Canadian-based natural gas and oil company. Their oil and gas fields are located in Alberta along the Western Sedimentary Basin. For years, it was one of the top 60 largest on the Toronto Stock Exchange and from 2005-2011, it was a CANROY (Canadian Royalty Trust). By January 2008, they reached their peak production of over $9 billion. However, they experienced financial difficulties when crude oil prices fell in 2014. They had to restructure most of their assets and sell the company to reduce their debts. It was originally named Penn West Petroleum; they changed their name to Obsidian Energy in mid-2017.

 

Obsidian currently produces about 30,000 boe on a daily basis. They make sure that they hire only those who share their passion for their mission to produce bottom-line results. They believe in maintaining an entrepreneurial spirit and welcome new ideas from just about anyone.

 

The Peace River is where their cold flow is manufactured. It is also considered to be the joint border between Obsidian and the China Investment Corporation. On average, the Peace River cold flow produces over 4,000 boe on $23 per boe in 235 net sections. See This Page for more information

 

Alberta Viking is Obsidian’s leverage infrastructure. It covers the whole Esther area and produces a mix of light oil and gas.

 

Cardium Waterflood Platform is what Obsidian’s platform is built on. They do their best to keep Cardium high-netback on the light-oil production and on the low-decline. It is also designed to keep low water levels in wells reduced.

 

Obsidian cares about the environment and is committed to resource conservation, meeting all environmental regulations, and maintain stakeholder communication. They also have contact information listed on their webpage that consumers can use regarding any concerns about their impact on the community. They have their own emergency plan involving trained ERP’s and stakeholders.

 

More on: 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/