Obsidian Energy is a leading medium-sized oil and gas producing company. The company currently produces about 30,000 barrels of oil and gas per day. The company derives its reputation from the high-quality assets and first class producing. Obsidian Energy’s assets are a platform for the company to produce solid net income results.
The company relies on the innovative spirit of its employees to deliver in the highly developing industry. The driving forces of Obsidian include discipline, persistent spirit and accountability to the partners of the company.
Obsidian Energy was previously referred to as Penn West Petroleum. 92% of the company’s shareholders voted in favor of changing the company’s name to Obsidian Energy. The name change came with a set of strategies that were put in place to ensure growth in the coming years. The Company’s CEO stated that Obsidian was chosen as the company name as it is a naturally occurring volcanic glass which can be honed and refined.
Obsidian Energy’s production is aided by its Peace Rivers Maneuvers by 90%. The aid is expected to end in 2017. The end is expected to downgrade production by 6%. The company has promising book and stock values. However, the values might be affected by the oil prices used for reserve valuation and impairment tests. Averagely, Obsidian Energy is priced for $40. However, it can approximately have a double upside with $55 longstanding oil.
In its Analyst Day presentation, Obsidian energy indicated that it could ensure a 6% growth in production in the period between 2017 and 2021. As Dave French states, Obsidian Energy has a solid placement and high-quality assets. With a well-balanced portfolio and a practical strategy, the company can set an incredible performance standard even in low oil and gas prices. Click Here For More Information
Obsidian Energy works with gas and oil fields that are located in Alberta which is located the Sedimentary basin in Western Canada. Western Canadian sedimentary basin is known for the petroleum resources that have been named as the world’s best, the Company’s total production in 2017 is expected to be 30 000 barrels per day.