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.
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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.