Obsidian Energy Ltd. is a Canadian independent oil and natural gas producer headquartered in Calgary, Alberta. It was formerly known as Penn West Petroleum / Penn West Exploration, and adopted the “Obsidian Energy” name in June 2017.
The company is active across Western Canada, with its asset base concentrated in Alberta. Its operational footprint includes three main regions: Peace River, Willesden Green (Cardium & Belly River formations), and Viking. In Peace River, Obsidian holds substantial heavy oil positions, while its Willesden Green and Viking assets contribute lighter oil and gas volumes, providing a mix of production profiles.
Obsidian’s model mixes both development and exploitation of its acreage, where it directly engages in exploration, development, and production of petroleum resources. It holds a large land inventory in Alberta (and historically across Saskatchewan and BC), giving it a base for ongoing drilling and redevelopment