OBE
- Obsidian Energy Ltd.
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Overview
Company Summary
Obsidian Energy Ltd. (OBE) is an energy company that explores, develops, and produces oil and natural gas resources. Formerly known as Penn West Petroleum, the company underwent a rebranding in 2017 to reflect its new direction and commitment to delivering sustainable growth.
As an intermediate-sized producer, Obsidian Energy focuses on developing and operating its assets in the Western Canadian Sedimentary Basin, one of the largest and most prolific hydrocarbon basins in North America. The company has a diverse portfolio of assets that span across several key resource plays, including the Cardium, Peace River, and Viking areas.
Obsidian Energy employs various exploration techniques to identify promising oil and gas reservoirs. Once identified, the company utilizes advanced drilling and completion methods to extract these resources efficiently and responsibly. This includes employing technologies like horizontal drilling and hydraulic fracturing to maximize well efficiency and production rates.
In addition to exploring and producing oil and natural gas, Obsidian Energy also places a strong emphasis on practicing sustainable operations. The company has implemented several environmental and safety programs to minimize its ecological impact and ensure the well-being of its workforce and surrounding communities.
As with any company operating in the energy sector, Obsidian Energy's performance is influenced by factors like commodity prices, geopolitical events, and regulatory changes. The company continually assesses its operations to optimize production, reduce costs, and adapt to market conditions.
Overall, Obsidian Energy Ltd. is focused on the exploration, development, and production of oil and natural gas resources in Western Canada, while also striving to maintain a sustainable and responsible approach to its operations.