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Overview
In The News
Executives & Employees
Board of Directors
Paths
Owners & Shareholders
Recent Transactions
Transaction Advisors
Financials
Suppliers
Competitors

Obsidian Energy Ltd.

OVERVIEW

Date Founded
1979
Headquarters
Penn West Plaza, 207-9th Avenue Sw, Suite 200, Calgary, Ab T2p 1k3
Type of Company
Public
Employees (Worldwide)
407
Industries
Oil & Gas
Company Description
Penn West is one of the largest conventional oil and natural gas producers in Canada. Penn West operates a significant portfolio of opportunities with a dominant position in light oil in Canada. Based in Calgary, Alberta, Penn West operates throughout western Canada on a land base encompassing nearly six million acres. Penn West is an actively managed company with a large and diversified asset portfolio, experienced and specialized technical teams, and an extensive inventory of internal opportunities. Penn West is well positioned to create long-term value for shareholders through a high-quality, long-life asset base, strong balance sheet and experienced management team.
Website

In The News See more

News Bites Canadian Markets
November 21, 2017
The Globe and Mail (Canada)
November 16, 2017
News Bites Canadian Markets
November 16, 2017
Law360
November 15, 2017
PR Newswire
November 15, 2017
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Executives & Employees See more


President & Chief Executive Officer

Chief Financial Officer

Vice President-Development & Operations

Vice President, Business Development & Commercial

Vice President, Production & Technical Services

Secretary & Senior Counsel
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Board of Directors


Former President & Chief Executive Officer at West Canadian Digital Imaging, Inc.

Former Managing Partner, Western Canada at PricewaterhouseCoopers LLP

Partner at Novo Investment Group Ltd.

Former Vice President at Suncor Energy, Inc.

President & Chief Executive Officer at Obsidian Energy Ltd.

Director-Alberta Region at The Nature Conservancy of Canada

Former Managing Director at Credit Suisse Holdings (USA), Inc.
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Paths to Obsidian Energy Ltd.

Obsidian Energy Ltd.
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Obsidian Energy Ltd.
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Owners & Shareholders

Details Hidden
FrontFour Capital Group invests primarily on a long basis and opportunistically on a short basis in U.S. and Canadian equity and fixed income securities, with a focus on event-driven value-oriented investments. They employ extensive bottom-up fundamental research and analysis to identify and purchase long positions in securities they believe to be undervalued by the marketplace. In addition, in order to isolate events, minimize risk or increase portfolio performance, FrontFour Capital Group seeks to identify and sell short securities they believe to be overvalued or have the potential to mitigate risk. They may also invest in securities of distressed or bankrupt companies. Their investment strategy is opportunistic and flexible in nature. FrontFour Capital Group is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.
Details Hidden
Contrarius Investment Management Ltd. is an active, contrarian manager which aims to create long-term wealth for clients by buying stocks they believe are trading below their intrinsic value and which are attractive relative to other opportunities. They follow a valuation-based investment approach, performing proprietary bottom-up research which seeks to determine the intrinsic value of an investment. The firm sells stocks when they believe they have reached their underlying intrinsic value or when they are less attractive than other opportunities, aiming to avoid the permanent loss which can result from continuing to hold a stock that ultimately corrects to fair value. Contrarius takes a long-term approach to investing, with a typical investment horizon of four years, believing that the ability to outperform in the long-term is largely determined by focusing on the long-term value of a business rather than short-term news flow.
Details Hidden
Proxima Capital Management seeks to achieve superior absolute returns on a risk-adjusted basis by investing primarily in equity securities and, to a lesser extent, in a variety of domestic and international securities, such as debt securities (including high-yield and distressed debt), warrants, rights, options, swaps, preferred stocks, convertible securities, publicly-traded MLPs, currencies, and money market obligations. The firm's investment strategy focuses on complex situations where traditional valuation methods are not appropriate or feasible. They seek to identify and take positions in special situation securities that are frequently misunderstood and inefficiently priced by the markets, and where they believe that the differences between the fair value and the market price will likely be eliminated over time. Proxima Capital may take long or short positions in equities or other securities where they believe the price-to-value gap will close over time based on fundamental changes in the business or the market. The firm performs fundamental analysis by developing an understanding of the situation and value drivers and performing field research to quantify any mispricings. Proxima Capital may sell securities short both to protect clients against a declining market and to identify profit opportunities for their clients.
Details Hidden
Scoggin Management directly or indirectly invests on behalf of their clients in securities of companies in which they believe that one or more potential catalysts may materially affect the value of those securities. These catalysts generally involve significant corporate events (such as mergers, acquisitions, divestitures, spin-offs, and reorganizations), financial distress or other special situations. Scoggin also invests in securities of distressed companies, bank debt, high yield bonds and other special situation securities.
Details Hidden
Contrarius Investment Advisory provides investment advisory services to Contrarius Investment Management Ltd. based on the Group's active, contrarian investment philosophy which aims to create long-term wealth by buying stocks they believe are trading below their intrinsic value.The firm employs a valuation-based investment approach, performing proprietary bottom-up research seeking to determine the intrinsic value of investments.
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Recent Transactions

Details Hidden
Obsidian Energy Ltd. purchases Cordova Gas Resources Ltd. from Mitsubishi Corporation
Details Hidden
Teine Energy Ltd. purchases Penn West Petroleum Ltd. /Saskatchewan Assets from Obsidian Energy Ltd.
Details Hidden
Freehold Royalties Ltd. purchases Penn West Petroleum Ltd. /Saskatchewan Oil Fields from Obsidian Energy Ltd.
Details Hidden
Obsidian Energy Ltd. purchases Spartan Exploration Ltd.
Details Hidden
Obsidian Energy Ltd. purchases Sifton Energy, Inc.
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Transaction Advisors

Companies ▾
Legal Advisor
Advised on Obsidian Energy Ltd., Penn West Energy Trust purchase C1 Energy Ltd.
Investment Advisor
Advised on Teine Energy Ltd. purchases Penn West Petroleum Ltd. /Saskatchewan Assets from Obsidian Energy Ltd.

Key Stats and Financials as of 2016

Market Capitalization
$804M
Total Enterprise Value
$1.64B
Earnings Per Share
$-1.39
Revenue
$586M
Net Profit
$-696M
EBITDA
$199M
EBITDAMargin
33.96%
Total Debt
$469M
Total Equity
$2.25B
Enterprise Value Sales
2.8x
Enterprise Value EBITDAOperating
8.24x
TEVNet Income
-2.36x
Debt TEV
0.29x
Five Year Compounded Annual Growth Rate Of Revenue
-27.89%
Three Year Compounded Annual Growth Rate Of Revenue
-36.79%
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Suppliers

   Building Products & Construction Materials    Calgary, AB
Winalta, Inc. offers modular buildings for the western Canadian oil and gas industry. It also provides installation, dismantling, and repair and maintenance services. The company was founded on December 29, 1986 and is headquartered in Calgary, Canada.
   Oil & Gas    Calgary, AB
Freehold Royalties Ltd. is engaged in acquiring and managing oil and gas royalties. The majority of Freehold Royalties production comes from royalty assets, which include mineral title and gross overriding royalties. Freehold Royalties was founded in 1996 and is headquartered in Calgary, Canada.
   Investment Services & Portfolio Management    AB
Sproule Associates Ltd. is a private company headquartered in that provides investment advice.
   Real Estate    Mississauga, ON
As experts in North American real estate ownership, investment and management, Morguard is a proven vehicle for realizing the full potential of real estate. Morguard has grown dramatically to become one of Canada's leading fully integrated real estate organizations, with more than 1,400 dedicated employees and more than $12 Billion in Assets Under Management. Morguard is a publicly traded company, that manages its own real estate portfolio, as well as invests and manages on behalf of third-party institutional and private real estate investors. Our diversified portfolio comprises more than 54 million square feet of high-quality commercial properties, and more than 12,600 multi-unit residential suites. Today we have three primary businesses: Investments in real property. Morguard owns on its own behalf a diversified portfolio of retail, multi-unit residential, office and industrial properties located in major cities across Canada and the United States. Real Estate Investment Trusts. Morguard is the major shareholder in two Real Estate Investment Trusts (REITs). Morguard REIT is a publicly traded, closed-ended trust that allows individual investors to participate in a high-quality portfolio of commercial real estate properties across Canada. The newly launched Morguard North American Residential REIT is a publicly traded, open-ended trust that has a portfolio of residential real estate assets in both Canada and the United States. Real Estate Investment Services. Morguard serves major institutional clients and private investors with a full range of real estate advisory and management services. We offer a broad range of flexible, proven investment vehicles and optimize the performance of the entire portfolio through acquisition and development, asset management and property management. Morguard was a pioneer in introducing real estate as an asset class to Canadian institutional investors and has generated consistently strong returns for more than 37 years. To discover the full range of Morguard's capabilities in this arena visit Investment Services. And to review the strong results we generate for our clients, visit Performance. Morguard also provides portfolio management services, specializing in publicly traded real estate securities, through Morguard Financial Corporation. For Morguard, diversification is a key strategy – and strength. Our owned and managed portfolio spans both Canada and the United States. It includes $4.7 billion in retail properties, $3.3 billion in office properties, $1.7 billion in industrial properties, and $1.5 billion in multi-unit residential properties
   Wholesale: Consumer Durables    Munich, BV
SFC Energy AG engages in the provision of hybrid solutions to the stationary and portable power generation markets. It develops power generation systems and their components for off-grid and on-grid applications based on fuel cell and other technologies. It operates through the following segments: Oil & Gas, Security & Industry, and Consumer. The Oil & Gas segment consists of specialized products, including intelligent motor control systems, frequency converters, measuring systems, and security solutions. The Security & Industry segment comprises of security and surveillance, wind, telecommunication, traffic, and environmental industries products. The Consumer segment sells fuel cells for powering electric and electronic devices away from the grid. The company was founded by Manfred Stefener in February 2000 and is headquartered in Munich, Germany.
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Competitors

   Oil & Gas    Calgary, AB
Tamarack Valley Energy Ltd. engages in the identification, evaluation, and operation of oil and gas resources. Its portfolio includes Cardium Oil, Viking Oil, and Penny Barons Oil projects. The company was founded in August 2009 and is headquartered in Calgary, Canada.
   Oil & Gas    Calgary, AB
Raging River Exploration, Inc. is a junior oil and gas production company. It engages in the exploration and development of crude oil and natural gas properties in in southwest Saskatchewan. The company was founded on December 15, 2011 and is headquartered in Calgary, Canada.
   Oil & Gas    Hamilton, HA
Yanchang Petroleum International Ltd. operates as an investment holding company, which engages in exploration, exploitation and operation of oil and gas fields and refined oil wholesale business. It operates through the following business segments: Supply and Procurement, and Exploration, Exploitation and Operation segments. The Supply and Procurement business segment involves in storage, transportation, trading and distribution of oil related products. The Exploration, Exploitation and Operation business segment involves in oil and gas exploration, exploitation, sale and operation. The company was founded on January 5, 2001 and is headquartered in Hong Kong.
   Oil & Gas    Calgary, AB
High Ground Energy, Inc. operates as an exploration and production company that focuses on developing light oil and liquids-rich gas resources. The company was founded in 2014 and is headquartered in Calgary, Canada.
   Oil & Gas    Calgary, AB
Rolling Hills Energy Ltd. engages in the exploration and development of oil resources. It focuses on low cost development of conventional resources. The company was founded in May 2014 and is headquartered in Calgary, Canada.
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