Category: Canada

Obsidian Energy Ltd. Strive To Rise Again

Obsidian Energy Limited is an intermediate-sized Canadian Oil and natural gas producer. It is located in Calgary, Alberta. Today the company produces about 30,000 barrels daily, which is due to their high-quality assets, not to mention the company’s well-balanced portfolio.

 

Previously Obsidian Energy Limited was known as Penn West Petroleum Limited or rather Penn West Energy. The name was changed to Obsidian Energy Limited in 26th June 2017, after serious deliberations with the shareholders, who finally approved the change. This was to compliment the many important changes the company has been implementing since 2014, after the financial scandal that hit the company.

 

Since the founding of the company in 1979, the company has known an upward rise to a point that it was among the top largest companies in the stock exchange of Toronto. In 2008, Obsidian Energy has already gotten to a peak market capitalization, going for a net worth of $9.5 billion, approximately.

 

In 2013 and before, Penn West had over 2000 employees and a production of over 135,000 barrels in a single day.

The problem started when a fraud was discovered in the company in 2014. an accounting irregularity of $381 million in 2012 and 2013 was revealed by some preliminary findings. With the help of the US and Canadian regulators, investigations were carried, reviewing records of as far as 2007. this lead to a huge debt crisis of almost $3 billion, and a crash of commodity price.

Under the leadership of David French, the company’s CEO, since 2014, Obsidian has made remarkable progress, which has seen the company rose over the financial crisis to where it is today. Though the company had to cut down its employees to 400, and also stop paying dividends, it has almost gained its stability back. Obsidian has been able to settle its $3 billion debt, as it were at the end of 2013, remaining only with less than $384 million, which was achieved through the sale of the company’s assets. Click Here to learn more.

 

The now totally transformed oil producer has employed prudent hedging strategy, acquired the right assets, and a healthy balance sheet, all aimed to make the company achieve standard performance.

 

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

Obsidian Energy: Building A Better Tomorrow Via Oil Production

Natural resources can be very hard to come by in most cases. These resources must be extracted from deep inside of the earth’s crust. Without natural resources, the world would literally come to a complete stop. There are numerous companies that specialize in this field of work, and one of the best is located in Calgary, Alberta, Canada. Obsidian Energy has been around since 1979, and it has been delivering bottom-line results to the highest degree. This just so happens to be an intermediate-sized oil and gas production company. Though it may not be the absolute largest oil and gas company, it is very productive thanks to producing an estimated 31,000 bbl per day. Get Additional Information Here.

 

Obsidian Energy is actually headquartered in Calgary, Alberta, but its lush oil fields are located throughout the Western Canadian Sedimentary Basin. This sedimentary basin is also one of the biggest reserves of petroleum on earth. This company is very professional in its daily actions, and it retains its core values and principles. These principles just so happen to be:

 

  • To Build & To Protect Enterprise Value
  • Retain Accountable & Transparent Efforts
  • Staying Connected With All Parties & The Community

 

It would be very hard trying to find another oil and gas company that is as structurally sound as Obsidian Energy. Trying to succeed in this demanding field can be very tough. Obsidian is very passionate in its craft as well as being very disciplined. This company does things by the books to achieve its main objectives. Some of the biggest news that’s coming out of this industry is that this company has underwent a change of name. On June 26, 2017, Penn West changed its name to Obsidian Energy. It’s like getting a fresh start to some degree, but the best in oil production is yet to come.

 

See Also: https://www.obsidianenergy.com/

Gregory James Aziz is the Brightest Business Mind of the Century

The rail company National Steel Car has been dominating their sector for the past 100 years. This is because they have been led by a wise and efficient Chief Executive Officer by the name of Greg Aziz. The very fact that he led this business into the next century has gained him wide respect within the business world. But many are asking, how did he do this? What was it that allowed National Steel Car to not only become more efficient but also to innovate to the point that they were outgrowing the competition by 20% a year?

 

National Steel Car’s change begins with Greg Aziz’s education from Western University. By attending this Ontario school, he was able to gain the knowledge necessary to lead a business during the most difficult times. It was three core truths, which he learned at the University, that allowed National Steel Car to continue on into the millennium.

 

The first core truth that was implemented was the truth that a company could never stop innovating. Greg Aziz understood that innovation creates the stream of the company’s profit. Innovation is the river of money that flows into the lake of the bank account. The moment a company stopped innovating and creating new products is the moment that company was defeated by its competition.

 

James Aziz ensured that innovation occurred by moving millions of dollars into Research and Development. At first, the executives thought he was crazy. They were already making enough profit as it was. There was no need to change things, or so they thought. However, Greg Aziz understood that times were changing and if National Steel Car did not change as well, then the entire company was going to sink.

This innovation produced a newer rail car that used 90% fewer gas emissions and was able to travel 75% further and 50% faster. This was a home run for the company. (View Source: https://www.behance.net/greg-aziz).

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The second core truth that Greg implemented during his time at National Steel Car as CEO was to strengthen the foundation of any business; the customers, the suppliers, the workers, and the executives. To the customers, he thanked them for their loyalty over the years. To the suppliers, he guaranteed them future profit for staying with National Steel Car. To the workers, he increased their pay and 401ks. To the executives, he trained them all to one day take his job. Click Here for more information

Great work of Gregory James Aziz at National Steel Car

Gregory James Aziz is a great businessman who has demonstrated his skills in many ways. One of the factors that have boosted his profession in the field of business is his early exposure to management by the family and his education as an economist. Greg is the standing CEO of the National Steel Car which deals with the production of the railroads. Aziz expertise as an excellent manager has propelled the company to the higher position and earned it the best in the production of the railroads. Furthermore, his skills as an economist have made him managed the finances of the company with ease. His hard work is proved by the extent to which the company his operation at now.

 

1909308_1405440073054185_660900271_oHe has expanded the boundaries regarding marketing and opened various branches in different parts of Europe and America. All the branches that are located in different places are managed centrally at the head office of the National Steel Car which is located at Hamilton, Ontario. The move that the company made in opening up branches all over America and Europe has made the marketing of its products easily. Additionally, the National Steel Car has had a chance to reach out to the new clients with their products. The company received TTX SECO award for quality, for over a decade.

 

The main headquarter of the National Steel Cars is in Hamilton. This is the point in which different operations which pertain the various branches are presented and analyzed. There is team of experts that are specialized in different fields and aid in the analysis of the data and the moves that the company can take to improve the sales of its products. The group of experts has placed the company at a vantage position over its rivals and helped achieved most of the set objectives. James Aziz as the CEO of the company is the one who was behind all the ideas that have made the company reached the required niche. He is known to be determined person. Aziz studied at his home country and later joined the Western Ontario University where he pursued Economics.

 

Greg James Aziz gained the skills of leadership at his tender age when he was part of the team that was operating the family business. He demonstrated his ability in management and rose to the level of manager. His achievement at this point is traced when he expanded the sales of the business from local to international export. Go Here to learn more.

 

As a matter of fact, Greg James Aziz has achieved a lot as the CEO of the National Steel Car.

Read More: https://remote.com/greg-aziz

 

The Rebirth of the Obsidian Energy

The Obsidian Energy was previously known as Penn West Petroleum which is a mid-sized energy production company found in Canada. After the company changed its name, David French took the place of a CEO of the company who has worked for hand in hand with the shareholders to bring the best out of the Obsidian Energy Company. No developing business does not incur losses, the Obsidian Energy has taken various risks and attained some injuries, but one thing that David believes is that the moments of losses are the ones that help a company grow. It’s out of this slippery moment that the company has developed the muscles to be resilient and outdo many energy companies.

 

Before Obsidian Energy started a new page the shareholders together with the staff came along and came up with some values that were meant to keep the company on track. The first value was, making well-organized technical and financial choices. This principle will help to reduce overflowing of additional debts. The other value is to create and defend business values. The final policy was to pursue progress and creativity at the same time promoting transparency with their shareholders, clients and the community they are operating. Those are the three main principles that have enabled the Obsidian Energy to withstand any crisis that has come on its way.  See This Article for learn more about Obsidian Energy.

 

Currently, the energy company has a well-balanced sheet and a sensible strategy that will make the company to set a high standard of performance including the environments that offers lower income. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.

 

The name Obsidian got coined from a type of precious glass produced by volcanoes that is tough and can sharpen very quickly. This title was meant to be symbolic, in real sense Obsidian Energy company have stood firm even in its difficult moments and finally it has regained its balance and has had its way through the market. It has grown to be the most dependable energy company in Canada and the United States. The main aim of the Obsidian Energy is to diversify their market to make it less risky and more profitable and secure.

 

Source: https://www.obsidianenergy.com/

Obsidian Energy, Oil and Gas Producing Company

Obsidian Energy is natural gas and oil producing company. This mid-sized oil company is headquartered in Calgary, Alberta. Its major extraction points at the Peace River Oil Sands, the Pembina Cardium and the Alberta Viking. The company was previously called Penn West Petroleum but got the new name Obsidian Energy in June 2017.

 

The company makes a considerable profit from its several investments in the oil company and its abundant production of 30,000 barrels per day. The company has shareholders who understand how it operates and its financial position. In 2008 shareholders approved 15% to 16% dividend to be returned to the company for investment. When the company wanted to change its name, shareholders voted for the favor of the proposal by 92%. They also have set their target for the next three years; they plan to have a fixed price for gas and oil to maximize profit.

 

One of the expectations that Obsidian Energy has is $70 oil by 2019. This will be possible because the oil production is likely to go up to$55 plus. The book value and price to reserve value also looks good at the moment; the price is affected by oil price assumption. Obsidian Energy indicated in June 2017 that they expect an annual growth of between 6% and 7% from 2017 to 20121 if the oil and gas prices remain the same for that period.

 

The workers at Obsidian Energy are committed to producing the best and at the same time protecting the environment. They work under the instruction of the management who also aim at achieving the objectives of the company. The administration is accountable to both the surrounding community and the shareholders. Find More Information Here.

 

The company’s name means naturally occurring rocks which can be modified meaning that the company’s performance can also be improved. The company’s CEO Dave French said that the selling of some few assets to make the operations of the company better is a step ahead, and they hope to go even further in future. Obsidian Energy has between 200 and 500 employees. The operation of the company is based on relentless passion and discipline on their work.

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

A Titan Of Natural Gas And Oil Production – Meet Obsidian Energy

Many Canadian citizens that specialized in engineering and production-engineering have worked at Obsidian Energy, one of the core producers of oil and natural gas in the country.

 

If you are old enough, you might know them by their previous names, as the company has already answered with different names throughout their history in the country.

 

Founded in 1979, the company and group were previously called Penn West Exploration Ltd., but then it changed to Penn West Petroleum and finally Penn West Energy Trust before settling for the name “Obsidian Energy.”

 

Obsidian Energy is a core producer and one of the most important oil & gas companies in the industry, having a big participation in the economy of Canada and part of the employment of the country, as Canada suffers from a population of aged people, and most of the young workers and students end up joining the big corporations because of their quality of employment and good working conditions.

 

There is a measure called the “S&P/TSX 60”, a ranking system that puts sixty companies from the Toronto Stock Exchange in degrees of extensiveness. The Obsidian Energy corporation group stayed among the sixty largest companies on the S&P/TSX 60 for a long time, especially during their best production time, a few years before the beginning of the 21st century.

 

The company is located in Calgary where they have their headquarters, but their wells and production factories are scattered throughout the whole territory of Canada, meaning there are plenty of opportunities for employment across the country.

 

Obsidian Energy hasn’t always been in a great financial situation, but Obsidian have overcome a few boundaries and are now considered one of the biggest providers of oil and natural gas in the country, competing with the standards of the best producers and providers internationally.

 

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The President and CEO of Obsidian Energy is David L. French, and, without the entrepreneur, the company would’ve never succeeded the way it did.

The Transition To Obsidian Energy

The approval by its shareholders to change its name from Penn West Petroleum Limited led to the organization significantly achieving much regarding growth and development. The firm is mid-sized and situated in Canada. The oil and natural gas company was established in the year 1979 and have its headquarters based in Calgary, Alberta. The significant restructuring of Obsidian Energy, begun with the change in name, and later on, the transformation of the entire company. Guided by the formulation of the core principles that safeguard the growth and development of the firm, much success as then escalated. The organization’s chief executive officer is Mr. David French.

 

 

The progress

 

 

The presence of a dedicated and technical team as promoted the endeavor of the management in propelling the firm towards greater heights. The administration has continuously ensured the protection of the enterprise value in the attempt of fostering credible accounting and transparency. With this, the staff becomes focused in the urge to progress. Positioned with the required assets, Obsidian continues to a level of specialization of the extraction and distribution of natural gas and crude oil has been achieved. Obsidian has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc. Currently, the company has approximately 300 employees on staff.The expertise of its employees helps them in reducing the cost of production and hence maximizing profits. Their strategy assists them in maintaining a set of standard procedures in bettering the general achievements of the organization.

 

Get More Info Here.

 

 

Attributes

 

 

Due to the change that was initiated in the company some successive qualities have been manifesting itself in the various activities of the firm. The appointment of the auditor general creates a sense of accountability and the presentation of a free and fair view. The board of directors possess very high levels of expertise in handling any complicated mechanical and managerial situation. The organization continues to mainly increase its production due to their level of advanced technology in petroleum extraction. This increase in output as emanated from the presence of the Sedimentary Basin the home of one of the world’s largest petroleum reserves. It continues to significant capital investments that promote their level of income to the revenue they pay out. The competitive advantage is that Obsidian Energy increases its returns day in day out.

 

Source: https://www.obsidianenergy.com/

National Steel Car Dominates the Railcar Industry

Born in Ontario, Canada in 1949, Greg Aziz serves as the President and CEO OF National Steel Car. In this capacity, he heads the world’s leading manufacturer of railcars. He holds a bachelor’s degree in Economics from the University of Western Ontario. Shortly after graduating, Greg Aziz started working in his family’s food processing business, Affiliated Foods, before moving to New York City. He also worked with various investment and banking firms. While working with Hamilton National Industries, Greg Aziz initiated the acquisition of National Steel Car from Dafco in 1994. By the time of acquisition, the performance of the National Steel Car had declined significantly.

 

Greg Aziz’s managerial skills and efforts were crucial in turning National Steel Car’s fortune around. He helped the company to increase its production capacity from 3,500 to 12,500 rail cars per year and staff from 500 to 3,000. He is dedicated to the company’s affairs ranging from efficiency, engineering, and manufacturing excellence. Due to his hard work and dedication, Greg Aziz has helped maintain National Steel Car as the world’s leading producer of freight railcar.

 

Greg Aziz is the husband of Irene. They are proud parents of two children. Greg Aziz is the sponsor of the 20098 Anglestone Tournament as well as National Steel Car equestrian team’s patron. Greg Aziz’s family is an avid fan of horse racing. As a philanthropist, Greg Aziz supports various charitable causes to improve the lives of the Hamilton community. He sponsors several charitable initiatives such as the United Way, Hamilton Opera, Salvation Army, and Theatre Aquarius. His efforts have resulted in the recognition of National Steel Car as the world’s leading manufacturer of railcar. Under his leadership, National Steel Car received the TTX SECO and ISO 900:2008 certification.

 

Greg Aziz attributes National Steel Car’s success to the excellent cooperation that exists between the management, employees, suppliers, and customers. He also reckons that continuous innovation, commitment, and challenging the existing boundaries have been significant in helping the company dominate the freight car industry. Mr. Greg commits to ensuring that National Steel Car continues to produce high-quality freight cars to its client base across the world.

 

 

About National Steel Car

National Steel Car is a freight car production company that continually challenges itself. Its focus is to strengthen its efficiency within the rail industry. Over time, National Steel Car has built an excellent reputation as the provider of the highest quality freight car with high on-time delivery. Get More Information Here.

A Closer Look into Gregory Aziz, the CEO of National Steel Car

Gregory James Aziz is a serial entrepreneur, a philanthropist and business executive. With an education background in economics, his management skill is well known for his successful stewardship of National Steel Car. As the National Steel Car Chief Executive Office, James Aziz has mastered the art of business administration and employee management.

 

Background and Career Information

 

Born on April 1949 in Canada, Greg Aziz attended Ridley College. He then graduated from Western University with bachelor’s degree in economics. In 1971, Greg joined Affiliated Foods Company, a family business that dealt with wholesaling of food. The company expanded to dominate the United States and Eastern Canada wholesale fresh food market distribution. James Aziz then relocated to New York. In the late 1980’s and early 90’s, Gregory J Aziz worked at various investment venture in New York.

 

On January 1994, Greg Aziz initiated the purchasing of National Steel Car from Dofasco by Hamilton National Industries. By the time of acquisition, the National Steel Car Company performance had significantly deteriorated. Greg was appointed the company’s CEO, and he managed to turn the company around to be one of the leading global premier freight railcar producers. Through capital investment, innovation and emphasis on team building, the company gradually improved its production.

 

National Steel Car

 

National Steel Car is a global topping railroad freight manufacturing and engineering company. It has over 100 years of continuous designing and manufacturing freight cars in North America. Based in Hamilton, Ontario, the company has continuously technically improved to compete in ever charging industry. Through the creation of a formidable team of employees and management, the company has continued to innovate and expand to dominate in the freight car production industry.

 

With over 3000 employees and annual rail cars production capacity of 12,500, National Steel Car also specializes in production rail cars parts and components. Some of its products include, the coal flat, super duty box, Gondola, jumbo box, and covered hopper. Also, it produces the auto rack, center beam, coil, intermodal spine and well cars. Click Here for more information.

 

The company utilizes the latest state of art technology in its manufacturing including CNC parts fabrication, robotics as well as the semi-automated assembly line. Under Gregory J Aziz leadership, the National Steel Car has grown to be the only railcar company to be ISO 9001:2008 certified in North America. Also, for over a decade, the company has been consistently honored with TTX SECO.

 

The father of two, Gregory James Aziz is a devoting lover of horse racing. He is the National Steel Car equestrian patron and sponsored the Anglestone 2009 Tournament. His benevolent services include sponsoring charitable event and organizations like Theatre Aquarius, The Salvation Army, and Hamilton Opera. Aziz and his family have continued supporting the Canadian Royal Agriculture Winter Fair.

More On: https://ca.linkedin.com/in/gregaziz