Obsidian Energy Inc. is a Calgary-based Canadian energy producer engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The company’s operations focus on resource plays in Western Canada, with primary assets located in Alberta’s Cardium and Peace River regions and the Lloydminster heavy oil area of Saskatchewan and Alberta. Obsidian Energy’s portfolio spans light oil, medium crude and liquids-rich gas, enabling a balanced production mix that aligns with market demand for diversified hydrocarbon products.
Established under its former name, Penn West Petroleum, the company underwent a strategic reorganization and rebranded as Obsidian Energy in 2017. This transformation involved corporate restructuring, a renewed emphasis on capital discipline and operational efficiency, and a streamlined asset base designed to enhance long-term sustainability. By focusing on core resource plays and applying modern drilling and completion techniques, Obsidian has sought to optimize its cost structure and improve well performance.
Obsidian Energy’s business activities encompass the full upstream value chain, including land acquisition, drilling, reservoir management and production optimization. The company markets its oil and gas production through a network of midstream partnerships and pipeline infrastructure, ensuring access to key Canadian and U.S. markets. Its integrated approach to operations supports consistent delivery of product volumes and contributes to revenue diversification across multiple commodity streams.
Guided by a leadership team with deep industry experience, Obsidian Energy is led by President and CEO David Robson, who has held senior roles in exploration and production throughout the Western Canadian Sedimentary Basin. The management team emphasizes environmental stewardship, health and safety, and stakeholder engagement, reflecting a commitment to responsible resource development. Through ongoing investment in technology and process improvement, Obsidian aims to drive value creation while adhering to sound governance practices.
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