Energy is one of the significant concerns globally and with industrialization came a big market and demand for it at every corner of the world. As a result, many energy sources continue to get discovered with time. Discovery of gas and oil played an essential role in the development of human life they are used as diesel fuel, asphalt, electrical power generation, industrial use, vehicle use and residential use just to mention a few. These natural resources need to be refined and processed before getting to the consumer. A well-known company for oil and gas processing is Obsidian energy ltd previously known as Penn West Petroleum Ltd.
Obsidian Energy Ltd is a Canadian company that produces gas and oil located in Calgary, Alberta. The company owns quality assets including wells of oil and gas distributed in western Canada. These assets create a platform for Obsidian to provide quality products and services to customers’ as well good business spirit within the company. With such valuable assets, the mid-sized oil company’s growth and success is a guarantee. Obsidian Energy’s oil fields are located in Alberta, along the Western Canadian Sedimentary Basin. This region is one of the world’s largest petroleum reserves. Obsidian’s oil production comes from three key areas in Alberta: the Alberta Viking, the Pembina Cardium and the Peace River Oil Sands.
The Chief executive officer Mr. David L. French is a highly experienced and skilled man that is driving Obsidian Energy to its full potential. Since he joined Obsidian in 2016 October, David has made changes in Obsidian that are essential for its growth and success. He previously worked as a CEO of Bankers petroleum ltd where during his tenure, he managed the firm and its commercial development productively. David has exceptional experience in finance, policy-making and management skills. He attended Rice University for his Bachelors in Mechanical Engineering and Harvard Business School for his MBA. Mr. French is evidently well qualified for his post in Obsidian Oil Company, and with him the future of Obsidian is bright. Visit This Page for additional information.
Obsidian has based itself on core values that propel it to perform remarkably; this includes persistent passion, discipline, accountability and transparency to their partners, shareholder and societies in which they operate.
Obsidian Energy has not only rebranded itself but also has made necessary changes within its organization that has equipped it with higher potential for growth than ever.
Obsidian Energy, known previously as Penn West Petroleum, has a large deposit of oil and petroleum wells in the northernmost part of Canada. The oil and petroleum wells owned by Obsidian Energy are located in the Western Canadian Sedimentary Basin, which is a known geological feature because of the abundance of petroleum reserves. It is also considered as one of the largest petroleum reserves in the world, and the amount of oil extracted by Obsidian Energy from the location is about 31,000 barrels per day. There are three primary locations in the Western Canadian Sedimentary Basin where Obsidian Energy operates – the Alberta Viking, the Peace River Oil Sands, and the Pembina Cardium, which are all located in the province of Alberta.
Known for its vast area, the Western Canadian Sedimentary Basin covers more than 1.4 million square kilometers of land. It encompasses several provinces and territories of Canada, including Alberta, British Columbia, Manitoba, Northwest Territories, and Saskatchewan. Over 250 million cubic meters of gas have been extracted from the location in 2000, but the actual number data has been observed to go down as years go by. Today, most of the operations conducted by Obsidian Energy are only for reselling the oil and petroleum deposits that they managed to extract. Click Here for additional information.
In the past, when Obsidian Energy was still known to the public as the Penn West Petroleum, the number of oil and petroleum that they are extracting per day is higher. They have been known as one of the 60 largest companies in Canada, posting more than $9.5 billion in annual sales. However, due to the constant crash of the oil and petroleum prices around the world, starting in 2014, Penn West Petroleum started to feel the effects, and their revenues went down. They had to cut the number of their employees to save money, and they also had to sell some of their assets. The company had to go through a restructuring and rebranding procedure to save what’s left, and in June 2017, the company changed its brand name to Obsidian Energy. With a new set of officers looking for the company, Obsidian wishes that their sales be restored to its former status.
The luxury real estate industry has been headed by a series of entrepreneurs in recent years as the growing trend for the most exclusive developments in the world has continued apace in many regions. One of the most impressive luxury real estate markets is that found in Dubai, the desert city in the United Arab Emirates which has become the home of the developer Hussain Sajwani. DAMAC Properties has become one of the most famous luxury real estate development companies in the world based on the success the company has achieved as a partner to members of the Royal Family of the United Arab Emirates and U.S. President Donald Trump.
Despite the success achieved by Hussain Sajwani, the DAMAC owner has set out to make sure his own level of success is reflected in the good works he does in and around the Dubai community. Each year at Ramadan, the UAE government sets out to develop a program providing clothing, warmth, and food for members of the local community who are struggling to make ends meet in the low-income housing of the city; Hussain Sajwani has become a major part of the success of the program with donations like that of 2013 which provided clothing for 50,000 children to be distributed by the Red Crescent humanitarian group.
The partnership between DAMAC and members of the government of the U.S. stretching back to the period when Hussain Sajwani was leading his food services company which was developed to provide meals for the oil and gas exploration industry. These services were later expanded to the U.S. military during the Iraq Wars and have spread into Africa, Asia, and Europe to provide a consistently profitable business for Hussain Sajwani.A real estate development partnership signed with U.S. President Donald Trump has raised the profile of Sajwani even further and seen then President-elect Trump namecheck his UAE-based business partner during a speech prior to taking up residency in The White House. Learn more: https://www.facebook.com/HussainSajwaniOfficial/