Energy is the lifeblood of a country’s economy. And a country who has to rely on energy imports is at the mercy of the seller. Thanks to the hard work of Obsidian Energy, Canada has been able to experience a level of energy security which has become the envy of other nations.
Based in Calgary, Alberta, Canada, Obsidian Energy employs over 300 energy drillers, producers and executives who produce about 31,000 barrels of oil or the energy equivalent per day. This type of production has helped Canadians enjoy energy at a lower price than those who have to rely on imports from far-flung countries.
Obsidian Energy was founded in 1979 when it was then known as Penn West Exploration Limited. In the several decades since, the company has grown rapidly to become a member of the S&P/TSX 60 at its peak in 2008. Today Obsidian is continuing to produce thousands of barrels oil and gas while running a leaner and stronger operation.
Obsidian Energy runs three major operations in the Alberta Providence which employs hundreds of local drillers and other energy experts. Located in Alberta, the Peace River Oil Sands operation which produces 4,823 boe per day with a netback of $23/boe. Just west of Edmonton is the Pembina Cardium operation which produces 18,876 boe with a netback of $20/boe. Finally, there is the Alberta Viking operation producing 1,766 boe with a netback of $22/boe.
Led by a team of dedicated managers, Obsidian Energy has a team of energy experts with decades of experience in the oil and gas space. President and Chief Executive Officer David L. French has worked at some of the largest energy producers before joining Obsidian in October 2016. And Vice President of Development & Operations, Tony Berthelet, has almost two decades of energy experience in North America as well as South America, Russia, and the Middle East. Go Here for additional information.
From management to field operations, Obsidian Energy is helping Canada become more energy sufficient while employing hundreds of Canadians in well-paying energy jobs. Looking forward, Obsidian Energy will continue to become a force in the oil and gas sector.
See Also: https://www.bloomberg.com/quote/OBE:CN