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How Obsidian Energy is Capitalizing on its Decades of Experience to Thrive in the Canadian Oil and Natural Gas Industry


With a production capacity of over 31,000 bbl, Obsidian Energy is a Toronto Stock Exchange traded firm majoring in oil and natural gas production. The firm previously operated in the highly-competitive Canadian energy industry as Penn West Petroleum, Penn West Exploration and Penn West Energy Trust. With its center of operation in Calgary, Alberta, the firm is among the sixty largest publicly-traded companies on Canada’s Toronto Stock Exchange platform.

 

In 2008, Obsidian Energy experienced its highest market capitalization that was valued at $9.5 billion. The company was also restructured in 2014 when the oil prices significantly fell. It officially stopped operating under the name Penn West Petroleum on June 26, 2017. Go Here To Learn More.

 

On November 1, 2017, Obsidian Energy regained continuous listing standard compliance with the New York Stock Exchange. The company regained compliance since its stock closing price was over $1 per stock in 30 trading days. It also managed to have a stock closing price of above $1 at the end of the 30 days. Obsidian’s shares are available for trading on NYSE and Toronto Stock Exchange under the acronym ‘OBE.’

 

Oil and Natural Gas Exploitation

 

Obsidian Energy is among the oil and natural gas companies whose exploitation interests are in the Western Canadian Sedimentary Basin, Alberta. The basin is among the world’s petroleum reserves with large volumes of crude oil. Obsidian’s production interests are on the Peace River oil sands, the Pembina Cardium and the Alberta Viking. These reserves are situated in Alberta, Canada.

 

Assets

 

When Obsidian Energy was operating under the name Penn West Energy Trust, it had billions of assets under management. The firm’s equities were also publicly-traded on NYSE. In 2008, Penn West Energy Trust yielded a 15 to 16 percent yearly rate. This percentage was as a result of the high dividends that the company paid to its stakeholders.

 

Penn West Energy Trust also operated as a Canadian Royalty Trust (CANROY). It comprised of oil and natural gas producers such as Crescent Point Energy, Enterra, Pengrowth and Zargon Energy. Others include ARC Energy, Bonavista Energy, Daylight Resources, Fairborne Energy and Peyto Energy. Penn West transformed from a Canadian royalty trust to a conventional corporation on the 1st of January, 2011.

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