Obsidian Energy is a mid-sized oil and gas producer. The company is very much a bottom line results oriented company. With Obsidian Energy high-quality assets, disciplined and passionate workforce, its no wonder why the company is producing nearly thirty thousand boa a day per year. With its entrepreneurial spirit and organizational capabilities, it’s no wonder that it has become so successful. Its resolve to make its self-accountable to both its shareholders and the community at large. That should make the shareholders confident in the company’s future. Although the company is only mid-sized, its crafted a well thought out strategy around its assets.
David French, who recently took control of the company as its CEO. He has already made his mark in the company that will reverberate for years to come. He has spearheaded a complete reorganization of the company from top to bottom. He has streamlined its operations to be more efficient. He has stabilized employment with the company to an average of about three to four hundred workers. See This Page for more information.
David French has also recently cut the companies debts from approximately three billion dollars to about three hundred ninety million. That is an amazing achievement that the company should be proud of. In a remarkable way he has changed the company forever. He wasn’t done though. He thought it was time to change the companies name as it was no longer the same old Penn West Petroleum. He was able to gather nearly ninety two percent of the shareholders support in the name change. So, from that point on the company became Obsidian Energy. Obsidian was named after the volcanic glass that can be sharpened and honed.
David French is no stranger to the oil and gas industry. He has been President and CEO of Bankers Petroleum Ltd., a Calgary-based publicly-traded oil and gas company. He has also served as management and consultant to other companies such as Apache Corporation and McKinsey and Company. He also holds a Bachelor’s Degree and a MBA. With David French at the helm with all his vast experience, I don’t think the company could do better than this winner.