Obsidian Energy is a natural gas and oil company located in Calgary, Alberta, Canada. It is an intermediate size company producing approximately 30,000 BOE each day. The company philosophy is to be accountable to the partners, shareholders and communities they serve while being incredibly disciplined and passionate about the work that they do. Additional guiding principles include the pursuit of innovation, disciplined decision making and transparency with shareholders, partners and communities. It is an equation Obsidian Energy has fine-tuned over the years and works for them.
The company began as Penn West Petroleum, Ltd. As Penn West and in June 2017 the name was changed to Obsidian Energy, Ltd. The change was a result of growth the company experienced and allowed management to redefine the company and better direct its growth for the future. Changing the name of the company spawned a stronger company that had more capabilities and created a lot of excitement for both staff and clients.
The company was founded in Alberta in 1979. From 2005 until 2011 Obsidian was a CANROY (Canadian Royalty Trust) entity. In 2011, the company converted to a conventional corporation. As a result, along with a focused business and operations strategy, the company has grown over the past few years and remained strong even as the economy fluctuated. The company has become a leader in the industry that is well positioned to compete in markets with varying price environments.
The gas and oil fields utilized by Obsidian Energy is an area that contains the largest petroleum reserves in the world. Most of the fields are in Alberta along the Western Canadian Sedimentary Basin, but the company also utilizes fields throughout Canada, as well. See This Article for related information.
Obsidian is respectful of the environment and the communities they serve. They constantly work to mitigate any and all impacts that are associated with gas and oil operations. It is their practice to openly address concerns through effective communication with area residents on any matter. The environmental program used by the company works to meet and exceed whenever possible any and all environmental regulations for the benefit of all.