Business Leader Joins the Obsidian Energy Team

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In the ever-fluctuating energy sector, one Canadian player is turning heads with sound decisions and healthy returns. Canadian energy juggernaut Obsidian Energy continues its upward climb in the crowded energy business, bolstered by a series of positive investment forecasts and the company’s own notable internal moves. Obsidian Energy’s most recent coup occurred earlier in the month with the appointment of Edward A. Kernaghan to the Obsidian Energy Board of Directors. Kernaghan, a 15-year veteran in the financial services industry is also a significant shareholder in the company.[1]

 

George Brookman, Obsidian Energy’s Chairman of the Board at the time, was pleased with Kenaghan’s appointment, recognizing that the addition of “big names” mean even more big ideas for a company already moving in the right direction. “We are happy to have Ed Kernaghan join our Board, Brookman noted in a recent statement, “Mr. Kernaghan brings broad financial and capital markets experience and represents a material ownership stake through Kernwood Limited and members of his family.”[2] Noting Obsidian’s desire to strengthen an already strong brand, Brookman further noted, “Mr. Kernaghan’s addition is part of our ongoing commitment to ensure the right mix of skills and experience needed to steward our existing strategy.”[3] The strategy is clearly working for resurgent Obsidian.

 

Kernaghan, who holds degrees from Queens University and the University of Toronto, previously held the position of Executive Vice-President at Kernaghan Securities before assuming the role of president of Kernwood Limited, a family company that owns over 33 million shares of Kernaghan & Partners.[4] No novice to corporate leadership, Kernaghan served on the boards of other TSX companies prior to joining the leadership team at Obsidian, and is excited about the trajectory of the energy company he now will help lead into the future..[5] “As a long-term shareholder, I am excited for what the future holds as Obsidian Energy executes its business plan and am eager to support and advise on Management and the Board’s current strategy.  I look forward to joining the team.”[6]

Big Future for Obsidian

 

It’s a great time for the Kernaghan addition to the Board, as Obsidian continues a bullish run toward growth and expansion that began with its 2017 rebranding efforts. Most notably, investment strategists laud Obsidian’s market position, seeing the company as an undervalued bright spot in an otherwise dismal Canadian energy sector. Equipped with a strong Board of Directors, a flashy new name, and a fresh, experienced President/CEO at the helm, Obsidian is poised to deepen its market strength through 2018 and beyond. With shareholders like Kernaghan offering their expertise and vision to the cause of corporate expansion and financial stability, Obsidian may have its best days ahead of it. Others agree with the rosy assessment of the energy company’s outlook.

 

Noting that Obsidian is “now on a growth trajectory living entirely within internally generated cash flow,” Michael Blair of Renegade Capital insists, “oil & gas investors should include this stock in their portfolios.”[7] Further noting the company’s strong debt management practices and anticipated annual growth of 5% or more, Blair contends, “I am long the stock and adding to my position on the strength of its recent operational performance.”[8] Blair is among a growing cadre of investors who can no longer stay on the sideline as Obsidian continues to solidify its strong position.

 

Internally, Obsidian Energy’s principals share in investors’ optimism. Reflecting on the company’s impressive third quarter campaign, David French, who serves as the capable, new President and CEO at Obsidian, lauds his company’s performance. “I am quite proud of the Obsidian Energy team in the third quarter, successfully executing our busiest drilling campaign in years and generating quality results across our key development areas. We are excited about the outlook for the Company and determined to continue operational delivery into 2018.”[9] Equipped with a robust 5-year production expansion plan, Obsidian’s leadership team envisions an even more prosperous future ahead for the energy company. The combination of great leadership and great planning positions Obsidian to offer great returns for shareholders and great oil and gas products for consumers.

 

Edward A. Kernaghan joins Obsidian Energy’s Board of Directors at just the right time, as the “future in now” for Obsidian. Targeted drilling expansion, prudent debt management, excellent leadership, and a commitment to cash-fueled growth. place Obsidian Energy on an enviable path. With Kernaghan and colleagues adding their significant business acumen to the conversation, it seems clear that Obsidian is moving forward with the wind at its back. We suspect investors are taking notice, and will soon increase their “piece of the pie” and enjoy the ride toward wealth.

[1] Extracted from: https://www.prnewswire.com/news-releases/obsidian-energy-ltd-announces-board-of-directors-appointment-667927683.html

[2] Ibid.

[3] Ibid.

[4] Ibid.

[5] Ibid.

[6] Ibid.

[7] Extracted from: https://seekingalpha.com/article/4124349-obsidian-energy-solid-returns.

[8] Ibid.

[9] Extracted from:

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