Obsidian Energy In Alberta

The oil and energy fields of Obsidian Energy are found in Alberta in Western Canadian Sedimentary Basin, and it has the most significant preservers of petroleum. In Alberta, it is produced in Peace River Oil Sands, Pembina Cardium, and Alberta Viking. They produce 31000 barrels of oil per day. It pays the New York stock exchange every month.

 

 

The payment of the dividends is not taxed at a dividend rate that is regular because the assets of the trust are resources that have been depleted as return capital rather than return on investment. The advantages of Bonavista Energy, Baytex Energy, Bonterra and Daylight Resources from Penn West producing oil and gas had also been included.

 

 

Penn West had to change its name to Obsidian Energy. Being the CEO of the company, Dave French chose the name because the Volcanic glass occurs naturally, and it is sharpened and honed. There have been high debts, and Dave French had to survive them. Visit This Web Page for more.

 

 

The net debt reduced to 384 million dollars which had been allowed by the asset sales as it’s focus was sharpened to the four critical areas of production in the company. Compensation of the board of directors had to be reduced, and payments of dividends to the shareholders had to be reduced in Penn West.

 

 

The organization and the assets have been crafted, and it helps in providing a platform which is right to offer results and also a spirit of entrepreneurship hence Obsidian is successful. The company has displayed discipline, and they like what they do. Their partners, shareholders, and communities where they operate are being accountable.

 

 

New York Stock Exchange of the price of its stock helps Obsidian Energy to receive standard listing notifications. NYSE got a notification from Obsidian Energy which was to assist in reducing the rates. The stock price would be monitored tightly so that the options available would be evaluated hence there is compliance with NYSE’S listing of prices by Obsidian Energy.

 

 

In conclusion, the asset sales that were allowed had to reduce the net debt by the company.

 

View Source: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

The Oil And Gas Producing Company, Obsidian Energy

Obsidian Energy is a power producing firm that creates finished quality oil and gas to users. It has a well-coordinated range of investment in the industry. In a typical day, it provides almost 30,000 barrels in a day. With all these assets, they combine and make the most out of it for profits.

 

The personnel working there are passionate about what they do having the discipline required for the extraction of quality energy that is needed by the population while protecting the environment. The management is also steering the company to the direction that is necessary for accountability with the stakeholders and in the surrounding community.

 

The Obsidian Energy was formerly known as Penn West Petroleum Limited, but the name was changed after approval by the leadership. The organization had undergone some modifications that required rebranding. The company is situated in Alberta in the Western Canadian Sedimentary Basin that has the most extensive stock of petroleum. Obsidian Energy produces the valuable produce in mines located at Pembina Cardium, Peace River Oil sands, and Alberta Viking.

 

In the year 2008, the company paid high dividends at an annual rate of 15% to 16% which were taken back to the company as investments. The shareholders of the company are people who understand whenever the company is facing problems, and that is why they voted in favor of the changing the name of the organization by 92%. In the next three years, Obsidian envisions a growth having a fixed price in the price of oil and gas.

 

According to Dave French, the name Obsidian Energy was chosen because of its meaning, naturally occurring volcanic rocks that can be modified; and so can the company. The assets sales have managed to keep the business running, and it is hopeful that more gains will be attained in the next financial year.

 

Dave French is also looking forward to getting more investors on board to take the firm to a new level and increase the marketing of the finished product. As a result, there will be more profits and steer the company forward would not be a hard task for the management.

 

Refer to This Site for more information about the company.