Time and again, we hear of various companies changing their names, and while some firms choose to opt for a name change due to mergers, and acquisitions, other enterprises re-name themselves due to ever-changing values, morals and principles. Due to the evolution of Penn West Petroleum Ltd, especially since their new-found beliefs and values, the firm has transformed into the better and stronger version known as Obsidian Energy.
Consumers who have heard about this change in titles, may be wondering, does this directly affect them in any way. The answer is yes, re-naming the oil and gas production company was done in the attempt to start an improved version of operation along with a new beginning. Enhanced operations will directly affect consumers as well as they can expect better things from Obsidian Energy such as efficient and timely solutions.
One of the main reasons, the choice to re-name the company was opted for, was because Obsidian Energy does not resemble the old company Penn West in any way. Obsidian Energy recently appointed a new board of directors as well as a smaller workforce that consists of only dedicated, honest and trustworthy employees. Their new work force consists of 407 hand-picked employees that help the firm produce 28,000 barrels of oil every day. Click Here for additional information.
Ed Kernaghan, who is one of the new members on the board of directors, was welcomed to the firm by George Brookman, the Acting Chairman of Obsidian Energy. George Brookman believes that as the new board member, Ed Kernaghan will add value to their operations with his immense knowledge and vast experience in both the financial and capital markets. With more than 15 years of industry relevant experience, Obsidian aims that along with Ed Kernaghan they will together and as a team re-build the firm right from scratch.
As an intermediate-sized manufacturer of oil and gas energies, this firm has an all rounded portfolio of prime quality assets that can add value to the current market condition. The new chapter of this company is based on an enhanced entrepreneur spirit along with a strong love for the work they do in the Canadian oil and gas creation industry. Currently, the company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).