Obsidian Energy Contends in a Competitive Oil and Gas Exploration Industry

Obsidian Energy produces gas and oil and is an intermediate-sized company. Its portfolio consists of high-quality assets that total up to 3000 boe a day. The company believes that its approach is the right one for delivering expected results for customers. Obsidian is also proud of its entrepreneurial spirit that allows it to succeed, thus far, in a highly competitive industry.

 

Obsidian Energy views itself as a company that operates from a base of discipline and passion to provide customers and shareholders with steadfast accountability. The company also takes into consideration its impact on the environment and communities in which it conducts operations.

 

Obsidian Energy was originally known as Penn West Petroleum Ltd. It changed its name to Obsidian Energy on June 26,2017. The company made numerous changes as Penn West Petroleum. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff. Those changes have brought the company to where it is today. Smart changes allow for the company to grow and maintain market share in an industry where players can quickly be eliminated for under performing.

 

Health and safety are also critical elements of the company’s mission. The company designs its programs and operations to protect itself and the environment. Obsidian’s management team commits all employees to safety training and operations improvement. Go To This Page for related information.

 

One way to survive the competitive landscape of today’s oil and gas industry is to take full advantage of sensor proliferation, big data, reality modeling, asset performance analysis, and 3D technology. This is all with respect to declines in oil production, cutbacks, and price changes across the industry.

 

Oil and gas companies must make exceptional use of technologies and processes that can keep them above water. This will aid them in staying agile and innovative even in challenging times. the likely trend will be more CEOs and CIOs working together to share information, knowledge, and even digital advancements. Obsidian Energy should continue to make an industry impact well into the future.

Source: https://en.wikipedia.org/wiki/Obsidian_Energy

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