Obsidian Energy Oil and Gas Company

Obsidian Energy is an oil and natural gas production company that’s based in Calgary, Canada. Its oil and gas fields are located in Alberta, where one of the world’s largest petroleum reserves exist. The company was formerly called Penn West Petroleum Ltd. before undergoing its name change in June of this year. Having over 300 employees, the business is listed on the Toronto Stock Exchange as one of the area’s 60 largest companies.

 

Headed by CEO and President David L. French, Obsidian Energy has been in operation for 30 years, and is committed to making a positive impact on the communities it serves through programs like Community Matters, which involves encouraging the employees and contractors of the company to communicate with residents in the area and answer questions or address their concerns in a productive and effective manner.

 

Obsidian also works to try to minimize how much their operation affects the environment, and there are safety programs that are in place to protect the public, as well as the employees and the business. In an interview that the CEO had with the Toronto Stock Exchange, he stated that the company has been through an extraordinary transformation. He also expressed how proud he is of the energy and enthusiasm that is displayed by employees of the company.

 

The CEO also said that Obsidian Energy is attractive to investors due to its noticeable growth, and he says that the mid-size company is going to continue to expand, which will make it an even better investment opportunity. The employees at the company are offered competitive compensation and benefit packages, which is part of what motivates them to stay satisfied with working there.

 

Due to Obsidian’s continued financial growth, the Canadian energy company is traded on both the Toronto Stock Exchange and the New York Stock Exchange under OBE as its name. The business provides a toll-free number, as well as an email address, that customers can use to have their non-emergency questions and concerns answered, and they strive to address emergency situations as promptly as possible to keep the areas they operate in safe. Refer to This Article for more information.

 

More: http://www.newswire.ca/news-releases/penn-west-changes-name-to-obsidian-energy-ltd-and-announces-voting-results-from-the-2017-annual-and-special-meeting-of-shareholders-630941703.html

Performance of Obsidian Energy Ltd. (OBE)

Penn West changed its name to Obsidian Energy (OBE) earlier in 2017. In November 2017, the company announced strong third quarter results and strategic budget for 2018. CEO, David French, outlined that the company has had favorable drilling campaign this year to provide quality results. The new company outlook has low operational costs and will continue with innovative delivery into 2018.

 

The Earnings per share for OBE is predicted to be about 9.30% annually for the next five years. The high growth rate of the company is likely to create more value for shareholders over the period. OBE is trading at about $1.30. Additionally, the stock has an average daily volume of 1.51 million shares. The company has a market capitalization of $690.90 million. The company has outstanding shares of 524.16 million.

 

According to Toronto Stock Exchange, Obsidian Energy Ltd stock has a current ratio of 0.67. The current ratio is the working capital of a company which compares total current assets to current liabilities of the business. It provides the capability of a business to repay obligations where relying on the existing assets. Investors check on working capital of a company in a highly volatile sector. Obsidian Energy provides strategic plans to provide investors with confidence during unpredictable times. Obsidian Energy can meet its short-term obligations.

 

Obsidian Energy projects to produce 32,000 barrels of oil in 2018. In the third quarter, funds flow from drilling oil and gas was $40 million. The company has undergone operational changes to lower operating costs to $ 12.26 per barrel due to lower maintenance costs and quick turnaround. The company has invested over $55 million for development. Additionally, the company deb has gone down to about $ 410 million as at the end of September 2017. Go To This Page for additional information about the company.

 

Obsidian Energy is growing at 5% annually within cash flows, has managed to bring down debt to controllable levels and has a good leverage. With the high operational performance, OBE stock is likely to appreciate in value in 2017. Additionally, the company continues to record accountable financial records, assets and substantial market share. OBE has improved on return on investment over the course of the year.

 

See: https://beta.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/penn-west-shareholders-approve-name-change-to-obsidian-energy/article35463586/?ref=http://www.theglobeandmail.com&