In a recent article on patch.com Dallas based company Stream Energy outlined their philanthropic efforts after the devastating hurricane, Harvey, that hit Houston in 2017. Harvey destroyed hundreds of homes and left people and pets homeless. There was one Dallas company that was not willing to stand by and leave these people in their greatest time of need. Stream Energy, a company that had made millions from its energy sales business, partnered with Home Supply Co. to help save those who were most affected. For Stream Energy these partnerships are nothing new, as they have worked with Habitat for Humanity and the Red Cross before.
Philanthropic work has always been a part of what the company has been, and they give back to the community through more than just money.
While the energy giant is never involved in philanthropy for any sort of recognition, it does help foster respect and trust in the local communities. Local customers will already be familiar with what the company does as they supply both energy services and mobile phone plans.
One of the areas that the company has devoted much of its philanthropic work to is homelessness. In the Dallas area alone there are thousands of homeless people that need a variety of services.
At the annual Stream for Hope event, that allows children a respite from their troubles, Stream Energy payed for the entrance and food for 1000 children to the local water park. It is just a fraction of the help that Stream Energy gives with donations year-round to supply everything from diapers to school supplies. It is not just a help to the homeless. Stream employees find the experiences incredibly rewarding.
Another area Stream Energy gives generously to is the military, They donated both time and resources to military families in the Dallas area, and they are always trying to find new ways to help in their communities.
On February 22, 2018 Obsidian Energy announced the hiring of a new chairman of the Obsidian Energy Board of Directors. Jay W. Thornton was appointed as Chairman and Mr. George Brookman, the Acting Chair since August 8, 2017, remains as one of the directors on the Board. Mr. Brookman became the Acting Chair after Rick George, their previous Chairman of the Board, passed away. He is a director of the Tervita Corporation and Energy Partners, Inc at present.
Jay Thornton, who was appointed to the Board of Directors in June 2013, has a plethora of experience in the oil and gas industry that spans three decades. He was a director of the Canadian Association of Petroleum Producers (CAPP)He was appointed to corporate executive, as well as, operating positions within corporations such as Suncor Energy and Shell Canada.
The new Chairman of the Board of Directors is now walking into a corporation that has turned a major corner financially. After drastically reducing a $380 million debt, the CEO and President of the company, David French, announced that 2017 “was a breakthrough year.” Their 4th quarter earnings was outstanding and they consistently met their operational goals. They also were able to beat their oil and gas production goals by 10%. The company states that this overproduction accelerates their momentum into the first quarter OF 2018. They plan to bring more wells online in 2018 to further boost their profits. Read This Article to learn more.
They expect their cost basis for operations to decrease in the future steadily. They also will continue to invest capital into their development projects. $37 million will be spent in constructing new production wells and in the exploration of new oil reservoirs such as the ones in the Rock Mountains of East Canada. Obsidian Energy’s oil fields are located in Alberta, along the Western Canadian Sedimentary Basin. This region is one of the world’s largest petroleum reserves.
Obsidian Energy has a commitment to make positive impacts on all of the communities where they have operations. They sponsor a Community Matters program where all employees and contractors are to communicate openly with all people in the communities. They are to be respectful, and responsible when conducting business in and around communities, and they are to be proactive when addressing any concerns.
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