Obsidian Energy’s oil fields are located in Alberta, along the Western Canadian Sedimentary Basin. This region is one of the world’s largest petroleum reserves. The oil industry is booming in Canada. Many companies in the oil industry have high sales and profits. Obsidian Energy is an oil company that focuses on drilling for oil. Over the past few years, the company has expanded in various ways.
Obsidian Energy is developing several products and services for the solar energy industry. Solar energy is an excellent opportunity for the company to increase sales and profits in future. Many customers in Canada want more access to solar power. Even though solar power is more expensive than traditional energy sources, the costs have decreased dramatically over the past several years.
Drilling for oil is a long and arduous process. Oil drilling companies take on numerous financial risks. Companies must purchase land to drill on, and the company must also buy the drilling equipment. When starting out, most oil drilling companies have high levels of debt. When the cost of oil is high, drilling companies make a substantial profit.
The price of oil crashed in 2016. Many oil drilling companies went out of business. Obsidian Energy was able to prosper during this time for several reasons. The company has a strong balance sheet with limited debt. Obsidian Energy also has revenue sources outside of drilling for oil.
Solar power is an excellent opportunity for energy companies. There are multiple ways for companies to increase sales from solar power. Customers must purchase solar panels to harvest solar energy from the sun. Over time, these panels need maintenance. Few people have experience fixing solar panels. Obsidian Energy offers various maintenance services in the local area. Visit This Page for related information.
Obsidian Energy is one of the leading energy companies in Canada. The company is excited about various opportunities for growth in the years ahead. The leaders of Obsidian Energy have done a great job managing the company.
The company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).