Obsidian Energy Transforms the Canadian Petroleum Industry

Obsidian Energy Ltd, a middle-sized Canadian oil and natural gas manufacturing firm is located in Calgary, Alberta. It was among the sixty leading companies in Toronto Stock Exchange. Between 2005 to 2011, the Canadian Royal Trust attained top market capitalization of about US $9.5 billion. The economic instabilities caused by the drop in crude oil prices in 2014, affected Obsidian Energy Ltd causing restructuring. With its fields based in in Alberta the global most significant petroleum reserves, Obsidian Energy production happens in the Peace River Oil Sands, Alberta Viking and Pembina Cardium.

 

Transformation Process

The company was previously known as Penn West Petroleum Ltd and reformed to Obsidian Energy Ltd on 26th June 2017. Before its transformation, the firm experienced significant modifications which necessitated redefining of company missions and visions. The changes resulted in a stronger and more focused Obsidian Energy Ltd. Company logo will too be amended to match the new company name. These alterations must also happen on the New York Stock Exchange and Toronto Stock Exchange The process should be accomplished within the next three to five business days.

 

The governance and management of Obsidian Energy Ltd, are happy to have successfully accomplished the transformation process successfully. Obsidian focuses to commence fresh operations based on three principles. Their aim is on technical and commercial discipline in decision making to develop and safeguard company values. They also focus on the persistent pursuit of development and invention and accountable and reasonable efforts with shareholders and stakeholders.

 

Market Positioning

 

Obsidian Energy Ltd has a competitive edge in the market. It is strategically positioned, equipped with sufficient assets, has enough cash flow and a perfect exit strategy. The firm president and CEO David French confirmed that Obsidian Energy Ltd is dictating its market performance. The Penn West Successor is now embracing expansion trajectory and gaining back its competitive advantage. Click Here for more information.

 

Projected Financial performance

 

According to operation reports obtained in 2017 November, Obsidian Energy Ltd is projected to produce 31,000 to 32,000 barrels by 2018. The financial forecast shows an expenditure of $ 14 per barrel and $ 2.50 for G&A by 2018. Expected netbacks by the end of 2018 should not less than $18.70.

 

Related: https://finance.google.com/finance?q=NYSE:OBE

The Restructuring of Obsidian Energy Led to Growth

Previously, Obsidian Energy went under different names including Penn West Exploration Ltd. Penn West Petroleum and Penn West Energy Trust. It is an intermediate-sized company that is involved in the production of oil and natural gas. The company is headquartered in Calgary, Alberta. At one time, Obsidian Energy was among the S&P/TSX 60 sixty largest companies on the Toronto Stock Exchange. It was also a Canadian Royalty Trust (CANROY) in 2005-2011 and reached its highest market capitalization in 2008 with a net worth of about $9.5 billion.

 

 

In 2014, after the crude oil crunch, the company underwent a major restructuring. The company’s oil and gas fields are located in Alberta along the Western Canadian Basin. This region is one of the world’s largest oil reserves. The company makes use of three key locations in the region to produce gas. These locations include the Peace River oil sands, the Pembina Cardium, and the Alberta Viking. It has a total production equivalent of about 30,000 boe per day.

 

 

The company was renamed because it planned on pursuing a path of modest growth in the years to come by tightly tying the price of oil and gas on the spending budgets. These resolutions were voted by a majority of the shareholders who preferred Obsidian Energy to undergo rebranding. They chose the name Obsidian because it is a naturally occurring volcanic glass that can easily be sharpened and honed. The name was symbolic to the situation of the company at that moment in time.

 

 

In view of its stable asset base, Obsidian Energy was able to reduce its net debt and at the same time focusing on four key production areas. The restructuring of the company enabled it to have a strong grip on its financial management systems and employment of cost effective measures which brought it back to profitability. Currently, the company is enjoying a steady growth and has adapted stringent measures to improve its revenue base. It has well organized management structure that is capable of transforming the company into one of the leading oil and gas producing company of all times.

 

Visit: 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&

Gregory Aziz Enhances Solidarity at National Steel Car

Gregory J Aziz is the lead executive of National Steel Car. He is also the chairman and the president of the company. Based in Ontario, National Steel Car is a leading manufacturer in railroad freight car, engineering and maintenance. Under the guidance of Aziz, the company has risen to the upper ladder of railroad manufacture and service delivery. Gregory has vastly focused on his team as the major source of National Steel Car’s growth. He has put a lot of work in generating a dynamic, revolutionary, valuable company that incorporates exemplary leadership in North America.

 

Gregory’ Leadership Strategies

 

Gregory James Aziz is well known for setting standard operating rules in his company. Persistently raising the performance bar for his employees, Gregory has promoted a culture of team work among his people. By posing challenges to them, they have learned to cultivate the culture of togetherness and team building. As a result, the company thrives in excellence. Gregory has a way of focusing on the strengths of his people. Usually, the major purpose for this character is to elevate employees by initiating incentives. Aside from working constructively to build a strong team, Greg focuses on providing clients with some of the industry’s leading standards. Perhaps that is the major quality that sets National Steel Car apart from other service providers.

 

Work Traditions

 

At National Steel Company, there is a lot to focus on in terms of development. Gregory does not boast of past achievements as he understands the value of implementing new, revolutionary strategies. That is why since he joined the company, he has been instrumental in building a strong, human resources department. Aziz is a friend to many. Aside from that, he is a mentor and a character developer. Being the leader, he capitalizes on increasing the employee base. This is a factor that promotes excellence through adequacy. It is evident that Aziz is keen on supplying the demands of his clients. Visit This Web Page for more.

 

The Conclusion

 

For Greg Aziz, team work is paramount. He has a special liking for his people. That explains why his employees testify to his ability to lead diligently. In addition, his family values have played a pivotal role in enhancing a skilled workforce. Aziz is definitely one of the most instrumental individuals at National Steel Car. By appreciating his employees, Aziz maintains an upper hand at offering guidance to his people. Aziz is determined to maintain his leadership position as well.

Related: http://ca.viadeo.com/en/profile/greg.aziz

Success of Gregory Aziz Under National Steel Car

Gregory Aziz is a Canadian entrepreneur. He was born in 1949. He is among the active corporate business executives in the country. Gregory J Aziz is the current president and chief executive officer of the National steel car. National steel company is leading company in the country. It is among the best performing in the country. In the engineering and manufacturing category. It is the leading company. It has performed well than any other company in the region. National steel car has its offices in Hamilton in Ontario. Gregory James Aziz went to the University of Western Ontario where he completed his degree in economics.

 

After graduating I 1971, he joined a family-owned business in his hometown. He worked for a business known as Affiliated Foods. This is a company that was owned by his family. He worked in this company for 16 years. By the time he was leaving the management of this company, it was already a top company in the industry it was the biggest importer and exporter of foods into North America. Affiliated foods dealt with the supply of fresh foods into the region. The company used to get its foods products from Europe and South America.

 

 

Gregory Aziz bought national steel car in 1994. National Steel car is a company that deals with the manufacture of railroad freight carts. The company has been building their products for the last one hundred years. It has managed to excel in its engineering and manufacturing business which is the reason they are able to perform this task very well. National steel car has been built on values and dynamism. The workforce of the company has been very happy that this company has been able to accomplish its achievements. National steel car has the best engineers in the industry who have made a huge contribution towards the success of this company. They are the people who have made the company one that has the best quality products. Read This Page to learn more.

 

 

Gregory J Aziz has been established the company on a good foundation of good relations with the clients and the customers in general National steel car has been awarded the TTX SECO awards as the best company in the industry. The company has won this awards for over 18 years consecutively. The company has also been ISO certified.

 

 

Since Greg Aziz joined the firm, the production capacity has gone up by a huge margin. The company now has a production capacity of over 12000. Before he purchased the company, it was doing less than 35000 cars in a year. The huge increase that has been recorded has purely to do with the managerial skills of Gregory Aziz.

Obsidian Energy: An In Depth Look At Obsidian Energy

Obsidian Energy is an oil and gas company based out of Canada. The company is listed on the Toronto Stock Exchange. At one time the company was called Penn West Energy. David L. French is currently the President and CEO of Obsidian Energy.

 

David French has been interviewed on numerous occasions by the Toronto Stock Exchange. Mr. French has stated that he is pleased with the amount of growth Obsidian Energy is experiencing and he feels the organization will continue to grow and prosper especially within the 2018 fiscal year.

 

Mr. French has been with the company for almost two years. In addition, he has previously been employed by Bankers Petroleum Company where he served as CEO. David French currently holds an Bachelor Degree in Mechanical Engineering from Rice University.

 

Obsidian has a strong commitment to nearby residents to keep them informed about any changes that may impact the environment. Changes impacting the environment are associated with gas and oil operations initiated by Obsidian.

 

Obsidian Energy has a variety of environmental programs that involve communication, resource conservation as well as site abandonment practices. This information is made available to the public.

 

The company has safety principals in place that guarantee the safety and well being of all Obsidian employees, family, friends as well as the public environment. All policies and safety procedures will at all times will comply with legislative requirements as well as compliance issues.

 

Obsidian Energy also enforces an Emergency Response Plan which involves employing safety measures while drilling for oil or gas within a specific geographic zone. Any and all companies as well as residents will receive advance notification of any scheduled drilling operations according to specific zones. Zones are numbered and recorded, they are kept in a permanent file.

 

Updated manuals are available for gas and oil pipelines in accordance with the National Energy Board Guidelines. Guidelines are updated on a yearly basis and can be viewed by obtaining permission to review relevant links. Read This Page to learn more.

 

Please see www.obsidianenergy.com. Safety data sheets can be viewed by logging on to the company web site.

Related: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

Greg Aziz, CEO of National Steel Car restores the glory of NSC

National Steel Car is one of the oldest corporations in Canada. It is among the remaining corporations that have survived for over a century and continues to be fully operational just like modern day corporations. In the category of rolling stock companies in Canada, it is the only big corporation that still exists. Most of the competitors in the industry died as a result of hard economic times and a shortage of orders from the railway’s industry. Other companies have fallen victims of their decisions by failing to adapt to changing times. Technology has adversely affected the engineering and manufacturing industry, and not many old companies have successfully transitioned with it.

 

National Steel Car is located in Hamilton, Canada. It is still one of the resilient companies in the country; have withstood the test time successfully. Established in 1912, National Steel Car have been manufacturing railroad freight cars and other related products. The company has been able to move with the times, and since the day it started its operations, it has never closed operations although its management has switched hands a couple of time. Initially started by Sir John Morison Gibson, and Bail Magor, the corporation is today owned by Gregory J Aziz. At some point between the 1960s and 1990s, it was owned by Dofasco.

 

National Steel Car Corporation has faced threatening challenges twice. After starting off with a boom in 1912, the corporation suffered its first huge setback in the 1930s. The company suffered a major shortage of orders. Since it was dealing with just one line of production, it found itself entangled in some challenging environment that needed quick measures to resolve. What the company did was to resort back to the production of bus bodies and motor trucks as a way of maintaining its operations. It later got its operations back to normal in the 1940’s with the advent of the Second World War. See More Information Here.

 

Greg Aziz

 

Greg James Aziz is the man behind the recent resurgence of the National Steel Car in the engineering and manufacturing industry. James Aziz bought the company from Dofasco in 1994 after the former owner was unable to sustain its operations. As an economist and investment advisor, Greg made the decisive decision of purchasing the company and transforming it.

 

In just a few years, Greg Aziz had restored the lost glory of the corporation in the region. The corporation now produces over twelve thousand cars all the way down from three thousand five hundred when he took over.

Read More: https://www.steelcar.com/Greg-Aziz-welcome