Obsidian Energy: The Name Change That Stabilizes And Lowers The Risks Of Operations

Rebranding companies achieves things that go beyond aesthetics, cosmetics, and superficial purposes. Sometimes, the entire brand or direction of the progress of a company could come from the fact the way it has changed its name. A company would twice be able to get as many opportunities if it’s keeping up with the trends lately. These trends could be better tapped with the help of new corporate branding. One of the companies today that have been able to access such opportunity is Obsidian Energy.

 

 

The Penn West Petroleum Rebranding

 

The decision to change the name of Penn West Petroleum came from the drive to want to access the newer opportunities today. The name changes it wants is the new name of Obsidian Energy Ltd., and this new name would hope to obtain all the new things that would be impossible if it stayed with the old name.

 

There had been a new set of challenges in the operations of Penn West under David French, the CEO of the Calgary Oil and Gas company, aka Penn West. The fact that he’s still facing all these challenges means that he’d be able to improve its operations and opportunities for growth. With the new name, it almost feels that the financial challenges of Obsidian Energy Ltd would no longer matter. The new name would be able to make the company start afresh and make sure that it can reach the needed changes it wants to achieve their goals and to upend their current status.

 

Refer to This Article to learn more.

 

 

The Smaller, The Better

 

Obsidian Energy Ltd wants to perform better, and it has been said that the way to do it would be to make things small. We all live in a busy age where everyone may be taking things too fast, and this leads to blow-ups. When this happens, all the risks are put in a bulk, which aggregates the damage into an ominous amount.

 

With that in hand, Obsidian Energy is now trying to make things small. The smaller things are, the easier it is to handle the consequences and effects of one’s corporate decisions. When the scale is small enough to be controlled by a small team, there’s less amount of risk.

 

Obsidian still has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.

 

Source; https://en.wikipedia.org/wiki/Obsidian_Energy

Mexico Opens Up Offshore Oil Well Drilling

Private companies were not allowed to sink offshore oil wells for the last eight decades in Mexican waters. However, the country has made reforms that have allowed private companies to drill wells as a way of encouraging foreign competitors back into the country’s energy markets. Talos Energy, Premier Oil Plc., and Sierra Oil & Gas joined hands to drill a well. Premier stated the drilling project, noting that it will start on the 21st of May. Premier also pointed out that the project is the first to be launched since the nationalization of the oil industry in 1938 by any other party apart from the Petreleos Mexicanons, which is a state-run monopoly.

During the statement, Primer indicated that the Zama-1 well would be based in the Sureste Basin, which is located off the state Tabasco. The well will hold between 100 and 500 million barrels of crude. The drilling process will take about 90 days, and it will cost Premier a total cost of $16 million. The three energy firms won rights to the project in 2015 when the first round of bidding took place after Mexico decided to open its oil industry to private industries. The move aimed at saving the ailing oil industry in Mexico.

Elaine Reynolds, an analyst at Edison Investment Research, which is based in London, indicated that the oil industry would keenly watch the project. That is because it is the first non-Premex well to be sunk since Mexican waters opened up as a way of reforming the Mexico’s energy process. Elaine also noted that the basin’s structure indicates that the project has high geological success chances. Talos Energy is the operator of the project. Sierra holds 40 percent and Premier owns 25 percent. Talos Energy holds 35 percent of the venture. Charlie Sharp, an analyst at Canaccord Genuity, admitted that Zama-1 is one of the most exciting exploration wells this year because of the implications it has on the Mexican market.

About Talos Energy

Talos Energy is an oil & gas company that is privately owned. The company focuses on production and exploration of offshore. Talos Energy employs experts to ensure that the acquisition of assets in and around Gulf of Mexico and Gulf Coast is carried out professionally. Its expertise provides high-emphasis on exploration, asset optimization, and exploitation.

To Read More : https://www.crunchbase.com/organization/talos-energy