There are various steps individuals and companies take to symbolize change. One such way is rebranding. This is done by changing and refreshing the framework of the institution and also at times even renaming. It is so in the case of Penn West Petroleum Ltd better known as Obsidian Energy Ltd currently, having been renamed in the year 2017.
With the change of name, it is evident that major changes have occurred within this oil and natural gas producing company. The company has managed to attain a better standing financially and thus has since managed to offset many of the debts it had.
This indeed has not been possibly achieved by a mere change of name alone. There are policies that Obsidian Energy has adopted as pillars in order to accomplish this.
For one, the company has adopted the spirit of accountability and transparency. This has seen to it that as it runs its operations. The operations are run in an open manner ensuring nothing goes on behind the scenes. It has also ensured those in charge of projects are able to give an account of how they have, for instance, distributed funds or how they arrived at certain decisions. More than that, they are able to take responsibility for the consequences of their actions.
Secondly, Obsidian Energy Ltd has become open-minded. This has enabled it to embrace and accept new ideas that pave way for change and further developments within the company. Go To This Page for more information.
Another pillar that has been adopted by Obsidian Energy Ltd is good conduct. This basically delves much deeper into work ethic. It goes further to instill hard work and diligence among the employees. The end result is that there is an optimum performance by each individual creating successes for the company as a whole.
Indeed, it must be noted that it takes a great and wise leader to know when change is needful. Dave French who is the current head of Obsidian has exemplified good leadership. Other leaders would benefit much by picking up a thing or two especially from the pillars he saw fit to be adopted at Obsidian Energy Ltd.
Obsidian Energy Ltd continues to be headed for even greater achievements. 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).