Obsidian Energy Achieves Massive Growth In 2017’s Third Quarter Report

Obsidian Energy reported strong third quarter financial and operational results for the year 2017. The President and CEO, David French, praised the Obsidian team for successfully executing one of the busiest oil drilling forays in years and generating excellent results. French said Obsidian is looking forward to continuing in the same direction in 2018.


In their first Deep Basin expedition, the company reports that its three Mannville wells are producing a total of 2,000 boe per day, with liquids of about 60 bbl per mmcf. These results surpassed Obsidian Oil’s projections for the period.


The Alberta Viking, Peace River Oil Sands, and Pembina Cardium projects also reported high rates, motivating the company to proceed with further funding and project execution. Through careful production management which has resulted in promising results, Obsidian Energy predicts that its full-year production will be at the upper limit of its 30,500 to 31,500 boe per day guidance range.


The CEO also notes that the Waterflood investment is encouraging. The base decline in the company’s Cardium business is at a mere five percent as a result of base optimization and waterflood projects launched in 2016.


Obsidian Energy projects a five percent production boost in 2018 despite investing only 80% of funds flow from operations. According to David French, the company has prospects which are ready for drilling and its operational versatility will enable it to exceed five percent increase by regulating their second half program depending on oil prices.


The Board has ratified a budget of $135 million for the year 2018 which will run their chief drilling opportunities. The 2018 plan provides a scalable and dependable weighted growth profile, and the 2017 third-quarter report only hints what 2018 could offer the company. The average production per day in the third quarter was 30,166 boe, a capacity consistent with the second quarter.


French reveals that the Obsidian Energy entered into an agreement to sell its royalty interests in Eastern Alberta in October 2017 for $40 million. The proceeds from the transaction will help reduce borrowing and will not affect the operations funds flow in 2018. Go To This Page for related information about the company.


The company, according to the CEO, is confident that it can achieve a double-digit percentage growth between the 2016 fourth quarter and the fourth quarter of 2017 without borrowing. David French describes the company’s outlook as one which integrates a foreseeable low decline asset base with extensive opportunities for development.


Obsidian Energy renamed from Penn West Petroleum in June 2017. French says that the inspiration for the name change was that Obsidian is a natural glass which can be honed and sharpened.


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New Resolutions For The Obsidian Energy Limited After Name Change

Obsidian Energy Limited was founded in 1979 in Calgary, Canada. It is an oil and natural gases producer and was previously known as Penn West until 92 percent of shareholders voted to change the name on the 26th of June 2017 to give it a new beginning. The new CEO and President David French, who started in October 2016, stated that the Obsidian Energy is now focused on progressing and increasing profits through discipline, transparency, accountability, and innovation. He also added that the company’s new name was inspired by the obsidian which is a naturally occurring glass in volcanic activities and it has the potential to be sharpened, improved, and respected. Furthermore, the shareholders also approved all resolutions in the 30th April 2017 annual and special meeting notice. These resolutions included the appointment of Ernst and Young LLP, Chartered Accountants as the auditors of Penn West for the subsequent year. The company’s shareholders through the ballot, elected eight directors of the company to represent shareholders until the next shareholders annual meeting or a successor is appointed or elected.


96 percent of the shareholders voted for the reduction of Penn West share capital used for accounting with 94 percent of them voting for the change of restricted unit plan to become the restricted and performance share unit plan. 93 percent of the shareholders voted for the approval of the company’s suggested resolution plan according to the circular. While still operating under its previous name, the company was once on the Toronto Stock Exchange amongst S&P/TSX 60 the 60 largest companies. On January 2008, it reached peak market capitalization of almost 9.5 billion dollars, and it was a Canadian royal trust from 2005 to 2011. Go To This Page for more information.


Obsidian recorded a strong third quarter result of 2017 and their proposed budget for the year 2018. The company is to focus on reinvestment and growth. The board has allocated 135 million dollars in the 2018 budget with 86 million dollars to be used in improvement and expansion of the already existing wellbore, while 25 million dollars will go to business capital and infrastructure while the rest is allocated to meetings financing and decommissioning costs.


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Gregory James Aziz- His Positive Impact In The Growth Of National Steel Car

Gregory Aziz has been in the manufacturing sector for a few decades now since he bought the national steel car from Dofasco, he has been keen to make the company the greatest company in North America. National steel car is a company that deals with the production of railroad freight cars. The company has been producing these products for over a hundred years now. National steel car was started in 1912. It was originally formed by the national Industries Inc. Later in 1919, it became a private company. National steel car has a long history of excellence. It is a company that has been able to withstand the challenges that are found in the manufacturing industry. Even with the revolutionization of technology in the current and the last century, National steel car has remained on top. It has adapted well to the changes that have been taking place. The biggest advantage that national steel car has is that it has established a name in the market as a producer of high-quality products. This is a factor that has enabled the company to maintain its clients’ base.



Gregory Aziz’s role in the management of the company has been great. He has been leading the company on a journey that has seen its production capacity improve greatly. National steel car is a leading company in the world for the manufacture of products used by the Railways Corporations in North America. Greg Aziz who is an economist has ensured that the company is able to produce good quality products as well as taking care of the clients’ needs. Greg Aziz studied economics at the University of Western Ontario Canada. He bought national steel car from Dofasco in 19914.



Before Gregory J Aziz joined national steel car, he was working investment banks in New York. He has also worked with Affiliated Foods in its food supply business. The foods business was able to grow and reach international levels. From a small wholesale business, it became a leading importer of fresh foods.


Gregory J Aziz is a leading business figure who is able to combine his entrepreneurial skills and his business studies to come with a strategy that assures businesses of growth. He has been a successful business leader all his life and has managed to help all the business he has been to develop. Click This Link to read more about Greg Aziz.



National Steel car is now an ISO certified company. This means that it has complied with all the production regulations. It is also the winner of TTX SECO awards for 13 consecutive years. These are awards for companies that produce the highest quality products.


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Gregory James Aziz: The Force Behind National Steel Car

Gregory J Aziz is a prominent name in the car manufacturing department. The businessman is currently serving as the chairman, president, and chief executive officer of a company called National Steel Car. While serving in these positions, the businessman has been influential in the competitive world, and he has brought numerous changes. The National Steel Car firm is currently famed to be one of the leading companies in rail cargo and car engineering. Since it was founded decades ago, the company has been impressing consumers from all over the world by offering them the best cars at very affordable prices. Despite the challenges faced by most car manufacturing companies in the market, National Steel Car has been doing exceptionally well in the last decade. The leadership of the privately held corporation has played a leading role in the success of the company.


National Steel Car main offices are currently found in Hamilton, Ontario. The reputation of the company has been on the rise in North America and other parts of the world because of the kind of products it has been offering. The experts who are employed to work in the company have a lot of expertise when it comes to engineering and manufacturing. These high qualified professionals have been in the industry for a very long time, and they know what the consumer needs so that he is satisfied. Under the leadership of Gregory J Aziz, the car manufacturing company has been successful in introducing some of the best cars in the entire world. The standards that are set by the institution have played the leading role in the success of the company.


When growing up, the businessman had an ordinary upbringing. His parents, however, knew that education is crucial to the success of an individual in the society, and this is why they decided to take their son to the best schools in the country. After completing his studies at the university, the successful investor joined the family business for a while before starting to look for other opportunities in the market. The expertise he gained when serving in the family business has been instrumental in taking National Steel Car to better and greater heights. Although the market is already dominated by car manufacturing giants who have already established themselves in the market, the businessman has done everything possible to win hearts of people who are looking forward to purchasing quality cars in the international community.


Visit the National Steel Car’s website HERE.

Gregory Aziz Delivers For National Steel Car

National Steel Car is the first and the only manufacturer in North America to be awarded the ISO certification. On top of this achievement is the TTX SECO awards that the company has won for more than 13 years consecutively. These are just two of the achievements that go to prove how this manufacturing company is great to this region. It is one of a kind and has been able to stand out in an industry that is highly competitive. National steel car has been able to achieve success due to good management that has stressed on providing quality products and services to the customers.



National steel car was created in 1912. For over a hundred years it has been serving the people of North America by producing quality products. The company is built on a firm foundation of values and work ethics that enables its management to deliver to their clients in a good way. National steel car as a manufacturing firm has put the interests of their clients first. In this respect, they have been keen to implement technologies that assure workers and consumers of good quality products that even beat their expectations. For a company that has survived for over a hundred years, it has is obviously that it has been implementing a methodology of delivering to its clients in a unique way.


The current management of this manufacturing firm is responsible for most of the improvements that we see currently. Greg Aziz is the president and CEO of the firm. Under this role, he has been able to focus the attention of the company into operations that matter to the company. He has implemented a working strategy that appreciates the work that his employees do. This has resulted in a happy workforce that is dedicated to producing quality products. Greg Aziz has ensured that the company observes all the rules and regulation that guide the manufacturing sector. His efforts have paid handsomely after the production capacity of the company improved. The company is now producing over 12500 cars annually.



About Gregory J Aziz


Gregory Aziz is Canadian businessman who has been in the corporate sector since the 1970s. In his various positions in the business sector, he has been able to influence the manufacturing industry by setting the standard for other companies to follow. Greg Aziz bought this company in 1994 from Dofasco. The previous management was hard-pressed to deliver leadership that would make the company remain on top.


Visit the National Steel Car’s website HERE.

Gregory James Aziz- President and CEO of National Steel Car

Gregory James Aziz is a leading engineering and manufacturing company in North America. He is a Canadian businessman who was born in April 1949. Greg Aziz entered the corporate sector spheres in Canada in the 1970s. Since then he has been in business, managing various businesses all over the country and beyond. Gregory James Aziz has held various positions in the corporate sector. He is the chairman of a corporation known as national industries Inc. Under this corporation is national steel car. This is a company that deals with engineering and manufacturing of tank cars and railroad freight cars. Gregory Aziz is the chief executive officer and president of this manufacturing firm. National steel car has its headquarters in Hamilton. Visit This Web Page for more.



Gregory J Aziz the head of this company went to school in Ontario. He went to the University of Western Ontario where he took a degree in business economics. Earlier he attended Ridley College. He got his first job after completing his degree in a business known as Affiliated Foods. Affiliated Foods is a business that deals with importation and supply of fresh foods from other continents. Most of its products are imported from South America and the United States. Greg Aziz worked for this company for a period of 16 years. Affiliated Foods is a company that is owned by his family. He played a key part in the expansion of this business.



Greg J Aziz bought nationals steel car from Dofasco in 1994. Since he took over the leadership of the company, he has steered the company in a manner that has resulted in great changes in the company. Greg Aziz  has been able to build a great reputation in the manufacturing industry. The company has made great strides in manufacturing, design, and engineering. The company has also been operating on the basis of good work ethics, values, diversity and dynamism. The employees of this company are happy to be associated with it since it is the best producer of quality railroads in the region.



National steel Care has invested heavily in a workforce that is highly skilled and dedicated to the work done by this company. The company strives in producing the best products for its customers. The ability to maintain high-quality products have earned the company good reputation in the manufacturing industry. National steel car has been recognized for its quality products and has in many times been awarded the TTX SECO awards. It has also been ISO Certified as a company that adheres to proper methods of manufacturing.

Greg Aziz: The Excellent CEO Of National Steel Car

Greg Aziz is a well-known name in the moving stock industry to be the current CEO of National Steel Car. The activity is located in Ontario and has already established a long experience thanks to the fact that it had become more than a hundred years ago. Among the first systems of action that the activity produced is in 1912, and from that moment the activity grew only in a safe direction to be the national head that is today. When Greg Aziz was determined to be the CEO of the business, he acknowledged that he would have much to travel on his shoulders. The company’s continued future would have kept hands and should have guided them in the future. He has enough knowledge in the field of activity, which explains why he could handle the business more effectively. Greg Aziz began working in the business field when he visited the job with his family.


The Aziz family had a commercial activity in Canada where they could transfer food from all over the world and resell it to international markets. The company has become very profitable, and Greg Aziz has received all of his training and experience that should have been considered a business manager. After working for a while with her family, she decided to leave Canada and concentrate on Wall Road. He chose the bank field and started to work on it. While working in this field, he has experienced numerous clients and companies to whom he has offered his knowledge. This is also the place where he met for the first time on the National Wagon. He has worked closely with individuals in the industry, especially those in the major positions. See This Page to Learn More.


1Having a good experience with the company has shown that this was his area to keep, and in fact, it has become a fantastic decision. Today Greg Aziz drives all Country Car Material with the drive and determination of his good head. He used the activity at new levels, and he also helped to develop in other places in America. The company’s continued future would have kept hands and should have guided them in the future. He has enough knowledge in the field of activity, which explains why he could handle the business more effectively. Greg Aziz began working in the business field when he visited the job with his family. The Aziz family had a commercial activity in Canada where they could transfer food from all over the world and resell it to international markets. The business has expanded its lower customer base, which has subsequently brought huge profits to the business.


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The Career Accomplishments Of Gregory Aziz

Gregory James Aziz was born in London, Ontario on 30 April, 1949. He studied in Western University where he ventured into economics. He later decided to participate in the family business where over a couple of years. The company went ahead and grew to a larger and prosperous investment. In 1994, James Aziz organized the acquisition of National Steel Car from Dofasco with the objective of developing it into a prosperous business. Under his management, the company extended its manufacture of 3,500 cars per year to about 12,500 cars per year in 1999. As a result, more job opportunities also grew from 600 workers to 3000 workers respectively.


Greg James Aziz in conjunction with his wife have also invested in a typical agricultural trade shows. It is the most popular show in the country as a lot of agricultural products are showcased at the event. Other activities that take place in the show include educating people on how to make land profitable for agricultural use. Greg Aziz has also engaged in a lot of charity in his society as he encourages, guides, and advises participants on how to be determined and positive-minded in their life.


National Steel Car was formed back in 1912. The company has been in business for a decade and its reputation is outstanding as it meets its customer’s standards. National Steel Car is well-known for its extraordinary designs and the customers are satisfied as the company delivers what they want. Under Gregory J Aziz’ leadership, the company got a major supplier called Canpotex. Canpotex is the leading supplier of potash. It invested over $500 million to construct 7000 railcars with National Steel Cars. Greg Aziz is determined to guide the company to deliver high quality machines to their customers.


In its capabilities and commitments to the society as a whole, the National Steel Car has ventured into charitable projects that help the less fortunate. The philanthropy includes nurturing the Theatre Aquarius among many others. The main objective of the National Steel Car is to honor the custom of the past and move with determination about the future.


James Aziz always counts on his customers as they are the most proficient people to the company and offer help regarding the products that they want to see. Aziz has received honor and awards as the Chief Executive Officer of National Steel Car Limited for his leadership qualities, growth and transformation of the company. Click Here for More Info.

Gregory Aziz Iconic Business Leadership

North America’s driving railroad cargo maker, National Steel Car, is possessed by Gregory James Aziz nearby being the CEO. He obtained the organization from Dofasco route in 1994. National Steel auto has its premises in Hamilton, Ontario. Experiencing childhood in London, he sought after his instruction at Ridley College and later progressed to the University of Western Ontario for a degree in Economics. After his graduation, he was favored to be a staff individual from Affiliated Foods, which is his privately-run company that significantly stays in import and fare of perishable nourishment items.


Since Greg James Aziz access to Affiliated Foods, the organization’s yield developed in more than sixteen years, which earned the firm market acknowledgment in the United States and east of Canada. The undertaking likewise started to import new nourishment from Europe and South America. Gregory J Aziz has worked in different managing an account establishment in New York, which picked up him involvement in the corporate world.


National Steel Car has over a century since its foundation. The firm has a staggering execution with respect to creating quality railways and tank autos through responsibility in building and assembling. Gregory J Aziz minds conventions of the organization through his administration and has dependably seen individuals as the foundation of the association. The endeavor expanded its generation in 1999 since Gregory’s passageway as the CEO, by delivering 6,500 more tank autos yearly. The firm right now enlists more than 2,000 workers who incorporate experienced technologists and designers on the planet.


Quality generation of railroad cargo autos has earned the organization a few honors, which incorporates a reliable honor by TTX SECO for being the most astounding quality organization more than ten years. National Steel Car is favored to be the main railroad load auto building and assembling organization to be ISO 9001:2008. National Steel Car every year takes part in innovative upgrades of rail tanks to fit in the cutting-edge world. The improvements are made to guarantee their items meet and outperform needs and benchmarks of customers. Gregory J Aziz has a dream for the organization to deliver hearty and more secure rail tank autos for transportation of combustible fluids. National Steel auto has helped the Hamilton people group through a few open financing and engagement in group based foundations. Greg Aziz supports Royal Agricultural Winter Fair in Canada, Theater Aquarius, Hamilton Opera, United Way and the Salvation Army. He welcomes local people and laborers, including previous representatives, to National Steel Car Christmas Party nourishment drive held every year.

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National Steel Car Grows After Gregory Aziz Bought The Corporation



National Steel Car Company is the biggest manufacturer of or tank cars and railroad freight cars in the whole of North America. As the leading railcar manufacturer in the region, National Steel Car enjoys unperturbed influence in the region. National Steel Car is known for producing quality products that are appealing to the customers. National Steel Car has been in existence for over a hundred years now. The corporation has been able to stay strong for all this time due to the grounds the company was laid on. National Steel Car has for many years been able to stay close to their customers by making sure they produce only quality products that serve the best interest of the people. National Steel Car has also been committed to the principle of ensuring that they embrace technology and innovation as the key drivers of the progress that the corporation takes going forward into the future. The managers of National Steel Car have made it a responsibility for them to stick with the tradition that was set right from the day the company was established. Their commitment to the interests of the customers has been solid from the beginning.



National Steel Car is headed by Gregory James Aziz who acts as the president and chief executive officer of the corporation. Greg Aziz bought the corporation in 1994. He used the investment that he had in various New York banks to buy the corporation. National Steel Car was purchased at a time when its operations had slowed down, and it was no longer able to run its operations, and it was required. When he bought the corporation, Greg Aziz’s number one responsibility was to revive the operations of the firm such that it would be able to produce a high volume of freight cars every year.


True to his commitment to the firm, when Gregory J Aziz took over, he ensured that all the areas of the corporation that were doing dismally were checked and catered for. On top of his priority list were the technology and human resource aspects of the organizations. He made sure that they there was massive investments in the technology that was being used in the corporation. He also ensured that he hired professionals who were skillful and knew what the corporation required for it to get back up. The efforts of Gregory J Aziz have been clear since and have seen the corporation record substantial growth since he bought the corporation in 1994. Go To This Page for additional information.