Obsidian Energy is a mid-sized oil and gas producer. Obsidian’s high-quality assets and commitment to bottom-line results has netted the company nearly thirty thousand boe a year. Its entrepreneurial spirit and relentless passion is what gives the company the drive to succeed. Its disciplined workforce helps the company speed up its organizational needs and growth. Being a company of accountability is also important for Obsidian Energy, both to its shareholders and to the communities at large. This should make every shareholder happy, I would think. As well, as the communities in which the company works in. Succeeding in an ever-evolving industry is at the forefront for Obsidian Energy.
David French who took over as CEO of Obsidian Energy has already made a clear and lasting impact on the company. He has spearheaded a total reorganization of the company from the top to the bottom and streamlined its operations. He has eliminated the majority of the company’s debt from three billion dollars, down to only just under three hundred and ninety million dollars. That is very impressive in my opinion. He has established the company on a path to sustainability, focusing the company’s operation on only a handful of the company’s portfolio of assets. He has also streamline employment at the company to a steady three to four hundred workers. With all of the changes that have been made David French found that the company no longer fit the old Penn West Petroleum name, and set out to change it. He was able to garner the support of nearly ninety two percent of its shareholders. With this in mind the name was changed to Obsidian Energy. Obsidian was named after the volcanic glass that can be sharpened and honed. Read This Article for related information.
David French is no stranger to the oil and gas industry. He previously worked for Bankers Petroleum. He has also been part of management or served as consultant to companies such as Apache Corporation and McKinsey and Company. He also holds a Bachelors and a MBA. I don’t think the company could have found a more qualified individual to run Obsidian Energy.
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