Obsidian Energy is a Canadian based natural gas and oil drilling company. This organization was originally known as Penn West Energy Trust. Their name changed back in 2014. Since that time, Obsidian Energy has been slowly moving up in profitability and production. As a matter of fact, in 2018, investors can expect to receive more profits in the immediate future.
Obsidian Energy is planning on making some moves that will make the company a more profitable venture. While these new moves have not been finalized they are expected to take place. First, Obsidian is going to get rid of their Alberta Viking and Peace River Oil Sands operations. Eliminating these two operations will allow the company to produce fuel products more efficiently. The organization will also get rid of their non-essential natural gas production as well.
Currently, Obsidian Energy is in transition. However, it has managed to increase stakeholder payout. Early in 2018, Obsidian investors were able to get a positive return on their stocks. This in turn helped to boost stakeholder confidence. Also, the company was able to increase its barrel profitability up to $65.
Remember that there was an extra surplus of petroleum for Obsidian and other energy companies. This surplus kept fuel prices down because there was more than enough of it to meet the current demand. Now, the surplus has dwindled down, and production is keeping pace with demand. See This Article for additional information.
This means that there will be less fuel in reserves. This is not a bad thing since it will allow the company to excel in the immediate future.
The good news is that investors can expect a great year from this company. Obsidian is poised to have a great year that will propel the company and its investors into a new realm of profitability and production. Obsidian is now preparing its company and its shareholders for the next successful chapter in its history.