Shareholders Vote To Rename Penn West Petroleum As Obsidian Energy

The medium-sized Canadian gas and oil producer, Obsidian Energy, achieves a 30,000 boe daily average, which is quite impressive. The company’s portfolio is far more well-balanced than many others in the industry, and it is comprised of some assets that are actually of great value. While Obsidian Energy used to have over 30 production areas they now focus on four. These had been their most profitable production areas and have the most proven oil reserves. The areas in which they work have some of the largest oil reserves on the planet. These four production areas are Pembina Cardium, Deep Basin, Alberta Viking, and Peace River.

 

With these assets and a great management team in place, Obsidian Energy has been able to build a platform that continues to deliver consistent results year after year. Members of this management team believe that an undying entrepreneurial spirit will be the key to surviving in such a rapidly evolving industry, as well as continuing to find success in the long term.

 

Discipline is one of the core values of Obsidian Energy, as well as accountability. The surrounding communities deserve just as much accountability and attention as Obsidian Energy’s shareholders and business partners within the industry. Obsidian Energy’s management team believes strongly in this principle and strives to remain wholly accountable to all of these people throughout the organization’s operations. Go Here for more information.

 

Despite the fact that this organization is now known by the name of Obsidian Energy, it used to be called Penn West Petroleum Ltd. not so long ago. In the summer of 2017, several adjustments were made within the company, and particularly on the structural level. This prompted the organization to take a vote among their loyal shareholders. These shareholders voted overwhelmingly in favor of a new name for the organization. As a result, Penn West Petroleum Ltd. became Obsidian Energy Ltd. on June 26, 2017.

 

Obsidian Energy CEO David L. French has remarked that the name came from a type of volcanic glass that is able to be “sharpened and honed.” Obsidian Energy’s leadership hopes to sharpen and hone the organization’s strong platform in the pursuit of moderate growth throughout the course of the upcoming three years.

 

Related: https://en.wikipedia.org/wiki/Obsidian_Energy

National Steel Car: Striving for a Better Future Ahead

 

In 1994, Gregory James Aziz purchased the National Steel Car from Dofasco. The rolling stock manufacturing company faced so much problems and challenges during their 100-year history, and the company never imagined that they will again experience their golden days under the leadership of Gregory J Aziz. The National Steel Car was founded in 1912 as Imperial Car Inc, and they last experienced their golden days during the 1920s decade. Since then, multiple problems and challenges followed, including the Great Depression, the First and the Second World Wars, and the 1980s to 1990s crisis which affected the rolling stock manufacturing companies. Gregory James Aziz revealed that he is envisioning the National Steel Car to become a world leader when it comes to manufacturing high quality rolling stocks.

 

Gregory James Aziz has been managing the National Steel Car for more than 20 years now. Back in 1994, when the ownership was transferred under his name, he found out that the National Steel Car only has 500 plus employees, and the number of rolling stock that they can produce every year is only at 3,500 units. Gregory J Aziz decided to keep the employees who were hired prior to him taking full ownership, and he told them that he believes in their skills and expertise in building high quality rolling stocks. He observed how the employees worked, and he was impressed with their dedication in creating what he wanted – a set of rolling stock that can be showcased to the world. Gregory James Aziz hired an additional 2,500 employees who would assist in creating rolling stocks. It resulted to an additional 9,000 rolling stocks produced annually, putting the number of their annual production to 12,500 units. This resulted to additional profits, and the National Steel Car is slowly recovering from the challenges that it faced in the past. View Related Info Here.

 

The astounding performance by the National Steel Car caught the attention of rail transportation companies in the United States. They contacted Gregory James Aziz and purchased a set of rolling stocks, which are now being used in American rail ways. Since then, most investors from the United States are partnering with the National Steel Car for their rolling stock needs, and the company is also speaking with other rail transport companies across the globe to try their products and become one of their partners. Greg Aziz is happy with the performance of the company today, and hopes that the future would bring in more opportunities for them to grow.

With Gregory Aziz, The Sky Is The Limit For National Steel Car

When Gregory James Aziz started his career, it is not apparent if he wanted to go into the freight car industry, but he has established himself as a major player. He started his life in the business world like most of his field. He began attending the University of Western Ontario and received a degree in Economics. This gave him a strong foundation, one he still utilizes today. In 1968, his family established the grocery supply company, Affiliated Foods. They had a goal to set themselves apart within their industry and figured out that importing fresh food was the way to do it. Greg Aziz joined the company in 1971 and they began their slow rise to the top from there.

 

By the time that Gregory James Aziz decided to leave Affiliated Foods in 1987, they were importing goods from all over the world. Their client base had grown so much, that they were even exporting as well. They had not just become a national brand, but a global one. This gave Aziz experience in the global market as well as with managing a company on that scale. The exciting world of business continued to intrigue Aziz, so he took the time from Affiliated Foods to create his own company. In 1994 he found National Steel Car, a railroad freight car manufacturing, and engineering company.

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National Steel Car had been on the decline for some years. After being established in 1912, the company had been through relatively rough periods throughout its history but had generally enjoyed a healthy reputation up until the point Aziz decided to purchase it. At some points, it had even been regarded as a national treasure. While the history of National Steel Car was very important to Aziz, he wanted to do something to set the company onto the next big thing. He did not want to skate by on what the company had done in the past, Aziz wanted the change to be more.

 

Under Aziz, the company has flourished. They have gone from a declining business to a world leader in rolling stock. They hold many honors that speak to their impeccable quality and give back to the community in tremendous ways. When Aziz went out into the world looking for an opportunity, National Steel Car gave him the chance to define himself. He took it over and proved to the world that he was a leader. The sky is the limit for Gregory Aziz and National Steel Car.

Read More: http://www.lacartes.com/business/Greg-Aziz-National-Steel-Car/191944