Penn West Petroleum Ltd. (TSX – PWT; NYSE – PWE) has proposed a change to the company name to Obsidian Energy Ltd.
The company is “very different from just a few short years ago," said David French, Penn West Petroleum president and CEO. “Over the past several months, we spoke a lot about concluding the story of our restructuring, which touched everything from our balance sheet, key development areas, people and operating practices. We rebuilt the Company from the assets up and refocused from the top down.”
The name change will be put to a vote at the company’s upcoming Annual and Special Meeting to be held in Calgary on Monday, June 26, 2017.