Obsidian Energy Ltd. is a semi-large supplier of natural gas and Canadian oil. The company is based out of Calgary, Alberta. The company was once called Penn West Petroleum when it first started, but since then; it has increased its market strategies and popularity. In 2008, the company was said to have made over 9.5 million dollars. Since 2008 however, the company have been fluctuating in yearly revenue due to the decline of crude oil prices. One thing to know about Obsidian Energy is that the company is never down for too long. The world’s largest reserves of petroleum are located at Calgary, Alberta making it an ideal location for Obsidian Energy.
The price of gas and oil always changes so Obsidian has formulated a plan that deals with maintaining a reachable goal, while keeping a close eye on the price of oil and the allowed budget. Dave French is the CEO of Obsidian Energy, and he knows all too well the result of not keeping watch of your budget and comparing it to the global price of petroleum; due to his experience and expertise on the matter. The company is producing a good number of barrels of oil, but it is less compared to what it was producing five years ago. Some began to believe that the company was going to go under due to debt but CEO, Dave French, had other plans. There were changes made in policies and functions and now you are witnessing a slow progression of capitalism from this company again.
Communication seems to be a focal point when it comes to Obsidian Energy. There seems to always be a clear line of communication whether is between employers, employees, customers, contractors, or stakeholders. There is so much that can happen when dealing with the hazardous materials of oils and gases, so safety and environmental protocols have been set up in order to answer the call when needed. The goal of working as less as you can in the environmental setting is one of the principles set by Obsidian Energy. There is also a safety response team set aside if something goes wrong, while being in the field so damages can be as limited as possible. Dave French was assumed to have his hands full with the relaunching of Obsidian Energy, but he has started off great.
Obsidian Energy has a commitment to make positive impacts on all of the communities where they have operations. Obsidian sponsor a Community Matters Program where all employees and contractors are to communicate openly with all people in the communities.
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