Obsidian Energy is an organization that rebranded recently. Since the company took the new initiative, it is believed to be doing very well, and it is considered to be a great competitor to some of the competitors in the energy market. Getting to this level has been hard work for the energy market. The institution was about to collapse several years ago before the investors and company management decided to take a different route so that they can save the future of the organization. Rebranding was the best thing that the company ever did since it was launched into the market.
Before rebranding, Obsidian Energy was known to many as Penn West. The company first came into the American market when things were doing so well in the energy market. The institution founders were motivated by the amount of success companies in the markets were experiencing, and this is why they chose to work together and make a great investment. The company was doing so well at first, and it was the pride of many investors. Things took a different turn when the energy market started experiencing unpredictable prices. In no time, the department that was making billions of monies in just a single night started registering losses. Many investors were even forced to withdraw their investments in the market.
Penn West was not left out in the tough times. The firm top management tried its best to make the company finances to work. However, the finance department had a big blow when a fraud case was reported in the organization. Things did not stop here. The company was losing the trust of investors and customers, and something had to be done first so that the situation can be controlled. After several board meetings with top management and investors, Penn West realized that rebranding was going to offer the kind of changes the company was looking for. Penn West decided to go for the name Obsidian Energy for a great reason. This name represents durability and strength, a great quality that is embraced by the Obsidian glass. The company changes will be reflected in the stock exchange market too. Get Related Information Here.