Penn West is not a new name in the energy market. The company has been in the market for a long time, and it impresses its customer by the kind of products and services it has been delivering. For some time now, the private institution investors had proposed that the name of the company to be changed. The management has the good news the investors have been waiting for. The company has approved the name Obsidian Energy Limited. According to the top management of the energy company, the new name will start being used immediately. Apart from acquiring a new name, the company has a new stock symbol that will be taking effect immediately too. According to the management, the new symbol of the company is expected to appear in the Toronto Exchange and New York Stock Exchange. In less than five working days, the shareholders should expect to see all the new changes. The investors who have been working with the company do not have to worry about the changes. This is because they are not required to take action concerning the change. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.
Everyone is very excited about the changes made by the management. The CEO of the institution is known as David French, and he is also very excited to be part of the team that has made history in the energy market. According to David French, Obsidian Energy will now be representing a new chapter and also a story in the market. Although the market is very competitive at the moment, the institution knows the trips and strategies used by the giants, and this is why they have been doing so well. The company understands all its principles, and they work hard to make sure that they are all met. The investors and customers are always given the top priority, and this is one of the reasons the institution has done so well. The company has a highly qualified management team who are always keen to give the customers all the attention needed. Under the leadership of David French, the energy company is looking forward to becoming the leader in the market.
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Learn More: https://www.obsidianenergy.com/
Penn West after so much of consultation with the shareholders settled on a decision of rebranding itself and even changing its name into Obsidian Energy Ltd. This change is not to affect the shareholders whatsoever. The company management expressed its joy for having gone through the transformation process. In his remarks, the company chief executive officer Mr. David French informed the general public of their new strategies. He outlined the three principles that they will use in guiding the company.
These are a persistent quest for advance and development, trained specialized and business decision-making to assemble and ensure enterprise value, and responsible and straightforward endeavors with their investors, their accomplices, and their operation area communities. Obsidian Energy is well situated with the right resources, a substantial monetary record and a proper supporting procedure that will enable the Company to set a standard for execution even in bring down price conditions.
The shareholders also made some other resolutions besides the name change and availed them in a circular. Some of these included the appointment of the company auditor, the election of Obsidian Energy board of directors, approach to executive compensation and an amendment to the restricted share unit plan. Much of the decisions were made through ballot voting. Additionally, the approval of the reduction of share capital for accounting purposes was done. All these were in an attempt to have the company advance to its desired heights of success. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.
The organization has made some fantastic progress in the endeavor to come to fruition in the competitive business world. It is a middle-value company and an oil producer with an all-around adjusted arrangement of fantastic resources creating approximately thirty thousand be every day.
These resources and the association they have made around them give the correct stage to convey main concern results and an entrepreneurial soul that will enable the organization to prevail in this developing industry. As Penn West, the group experienced noteworthy changes all through the association, changes that have influenced each part of their business and have prompted the redefinition of the Company and how and where it develops from here.
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