Obsidian Energy Produces High-Grade Gas and Oil

Obsidian Energy Ltd. (OBE:Toronto), headquartered in Canada, is a unique producer of natural gas and conventional oil. Formerly known as Penn West (or Penn West Petroleum Ltd), the intermediate-sized company is one of Canada’s chief sources of energy with operations in important key production areas.


In the Cardium Basin, the Calgary-based company commands a top position there. In Alberta, Obsidian Energy Ltd holds lucrative assets in the Viking basin. No matter which basin is more profitable, the Obsidian brand means huge profits it goes without saying, but also a good start for the newly formed company.



What is the secret of Obsidian Energy?

There is something about Obsidian Energy you will not find in any other competitor… its unique way of doing business and turning a profit! And, its ability to continuously produce premium gas and oil dramatically shows its Ivy League-educated executive management team are second to none.


David French, the company’s President and CEO, knows how it all started and what made the mid-sized Canadian company a profitable entity. From a down-hole choke mechanism with which to stabilize gas rates to maximizing the liquids potential of the company’s wells, French can see how profitable Obsidian can be. Get Related Information Here.


In fact, the company’s name Obsidian exemplifies ancient volcanic rocks which have been in existence since prehistoric times. They were crudely sharpened and later honed by First Nation who used the glass-like rock as tools. Today, Obsidian is one of most sought-after energy company in North America. And, many savvy gas and oil investors around the world are gleefully adding this high performing stock to their portfolios.


Since its founding, the energy producer produced some of the highest-grade gas and oil in the world. Certainly, up to the present time, producing high-grade gas and oil is an admirable achievement, proving the Obsidian Energy brand will remain highly profitable in the future.

From Penn West Petroleum to Obsidian Energy

There was a company called Penn West Petroleum Ltd. This company changed its name to Obsidian Energy Ltd. in June of 2017. Obsidian Energy is a gas and oil producer of medium size that produces assets of high quality that come to around 30,000 boe every day. Not only was there a name change, there were also important changes all throughout the company that affected each part of the business and allowed it to grow even more. Obsidian Energy became even leaner, more capable and stronger than when it was Penn West Petroleum.


With these prestigious assets and the organization that is producing them, there are always positive results by using the proper business spirit that will let Obsidian be a success in this industry. It is a company that is dedicated to use passion, discipline and reliable accountability always to their partners, communities and shareholders to whom they serve.


Obsidian Energy has operations that include Alberta Viking, Cardium and Peace River. Alberta Viking provides leverage in their infrastructure with production of 1,7676 boe/d and netback of $22/boe. This advantage is able to provide infrastructure ownership and a leading position over the area of Esther. This is accomplished with a light oil and gas mix that has shorter cycle wells with longer cycle activities in Cardium.


Cardium has a production of 18,876 boe/d and a netback of $20/boe. It is used for high-netback and low-decline light oil production. Cardium is perfect for the waterflood platform approach to keep pressure of a reservoir able to lessen decline rates on wells that are new. This method has successfully been used for several decades to increase recovery and production. Click Here for more information


Peace River is cold flow manufacturing. Its production is 4,823 boe/d with a netback of $23/boe. This netback is of carried operating costs. This operation manufactures the cold flow in the Peace River. It is a combined venture with both Obsidian Energy and China Investment Corporation. The largest position is in the crude oil resource.


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