The importance of oil and gas is unquestionable, especially in today’s society. The two powerful substances can be found all over the globe and in high abundance. Western Canada is no exception as it is one of the most fertile regions for oil and gas production. On the other hand, there is one company that has been outperforming the competition on a consistent basis. Have you ever heard of Obsidian Energy? If you haven’t heard, then just know that this is one of the most successful oil and gas companies in North America.
Obsidian Energy is definitely worth its weight in gold. The company has a well-balanced portfolio, it creates bottom-line results, and it has high-quality assets to sustain its growth. Obsidian has a well-established background, and it has been in business for close to 40 years. The amount of experience and expertise is being put on full-display for the world to see. President and CEO David L. French has been on a mission to keep this company at the top of the ranks. As of 2017, the company has downsized from 2,000 staff members to 1,000 staff members. This decrease has come in the wake of 2014’s lower crude oil prices. Obsidian Energy and other similar companies has felt the pinch, but this company has remained active under this pressure. To reduce some of its debt, Obsidian Energy has gone through a restructuring process. See This Article for additional information
As of today, the future is looking brighter thanks to its discipline and accountability. Many of the wells are producing more bbl equivalent, and its capital program for 2018 looks to become even more efficient. Can Obsidian Energy get back to the top position? By listening to the company’s latest press release, Obsidian Energy is definitely back on track to become a huge success.
The company 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).
See Also: https://www.obsidianenergy.com/