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Obsidian Energy’s New Beginning

Obsidian Energy (OBE) is one of Toronto Canada’s primary stocks. The company focuses on oil and natural gas drilling in Canada. Their drilling fields are in the Western Canadian Sedimentary Basin and Alberta. Along the entire Western Canadian Sedimentary Basin which includes the south eastern Yukon territory, areas in the Northwestern territory; Liard Basin; Horn River; the area from Horn River through Montney, Alberta; Duvernay, Alberta; and the Alberta Deep Basin. This area is believed to have the world’s largest petroleum reserves.


Obsidian Energy is headquartered in Calgary, Alberta. Their offices are very near their drilling fields. The primary drilling locations are in Alberta Viking, Cardium and Peace River. Alberta Viking drilling yields both oil and natural gas from shorter cycle wells. The Alberta Viking wells yield 1,766 BOE. Cardium is slightly southwest of central Alberta. It is a longer cycle waterflood platform yielding light oil at a rate of 18,876 BOE. Peace River is located in Central Eastern Alberta. It is a joint venture between Obsidian Energy and China Investment Corporation. Peace River’s cold flow production drilling yields 4,283 barrels of oil equivalent daily (BOE).


To get from Penn West Petroleum Ltd to Obsidian Energy, the company had to undergo some drastic changes. The company streamlined production and reduced it from 135,000 BOEPD in 2013 to 28,000 BOEPD in 2018. They also reduced their employee count from 1415 to 407 and lowered their net debt from $3 billion to $384 million. On June 26, 2017, the company name was officially changed to Obsidian Energy.


Obsidian Energy began is new business approach with 3 principles. 1) It would employ each move as disciplined commercial decision-making conceived to promote the building and protecting of the company’s value. 2) The primary goal of every step would be the relentless pursuit of innovation and ultimate progress. 3) The company would always seek to be accountable, using transparent efforts, allowing shareholders, partners and the communities in which they operate to be aware of their activities. All these changes including Obsidian’s preparedness for competing in a lower price environment will extend the life of the company as noted by David French, Obsidian’s President and Chief Executive Officer. See This Page to learn more.


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Stream Energy And What it Thinks About Coal

In 2005, coal was the most popular source of energy in the United States of America, contributing to roughly half of all energy production across the nation. Just last year, coal provided just one-third of the total fuel supply for energy consumption. According to experts, the transitioning-out of coal as a popular energy source is slated to decrease significantly in coming years.


Patriot Coal, Alpha Natural Resources, and Walter Energy all filed for bankruptcy in 2015, all of which were major coal manufacturers or processors. Arch Coal, another company among the likes of the aforementioned three, went out of business the following year.


It’s also said that Peabody Energy Corporation is likely to collapse in coming years, if not in 2018, because of major hits that the company has taken to its income due to the general phasing out of coal. Peabody Energy Corporation filed for Chapter 11 bankruptcy 12 months ago and shut down several of its subsidiary operations. The future of Peabody doesn’t look too good, but Stream doesn’t mind that – along with the rest of humanity and its future generations.


The United States government quit handing out leases for coal mining on public land back in 2016. This was a major blow to the welfare of coal producers in the United States, as roughly 40 percent of all mining is carried out on lands owned by the government. While current leases haven’t been canceled, new ones aren’t allowed to be signed involving the United States government. Visit This Page for more information.


Cutting out coal as a major source of energy is great for planet Earth, because roughly 80 percent – that’s four-fifths – of all carbon emissions come from power plants that burn coal. Experts suggest that coal is the leading cause of emissions causing or contributing to climate change and its global warming component.


Stream Energy


Stream Energy is operated out of Dallas, Texas, and obtains new customers mainly through a direct selling approach. Stream Energy works out of roughly eight states across the United States of America, and also helps people in the nation’s capital get power.