​Obsidian to reduce headcount with Cardium focus: This week’s best quotes

Image: Joey Podlubny/JWN

Here are five of the best quotes from the last week’s oil and gas news coverage in the Daily Oil Bulletin.

1. Michael Faust, interim CEO of Obsidian Energy, told the company’s annual meeting that it will make “significant” staff reductions as it shifts its focus to the Cardium play, requiring fewer people.

“We have 250 people working for a 20,000 barrel a day company,” he said, adding the company will need to downsize even more than it already has.

2. At an Economic Club of Canada luncheon, Alberta Premier Jason Kenney described why his government has appointed the province’s first associate minister for natural gas, Dave Nally.

“This is because the gas industry gets crowded out and marginalized by all of the excess focus and attention on oil in general and bitumen in particular.

“We want to have a voice at the political and senior officials’ level that is ever focused on representing the best interests of the gas producers.”

3. Tourmaline Oil CEO Mike Rose told the company’s annual meeting that despite being an upstream producer, its revenue from midstream operations is a significant and growing business.

“We are the fourth largest midstreamer in Canada, including midstreamers, and by far the most efficient.”

4. Tim McMillan, CEO of the of the Canadian Association of Petroleum Producers, described the advocacy group’s new ‘platform’ for the 2019 federal election.

“It is incumbent on the next federal government to create the conditions necessary for Canada’s oil and natural gas industry to succeed and play a key role on the world stage. In our platform we put forward a vision of what it could look like if we get this right.

“By increasing our competitiveness we can attract investment, create jobs, grow production while contributing globally. It’s time for Canadians to ensure their voices are heard and to speak out in favour of energy development.”

5. John Brogly, acting chief executive of Canada’s Oil Sands Innovation Alliance, told attendees to the 2019 Oil Sands Innovation Summit that COSIA is going to start being more public about its work and achievements.

“[What] we talked about in the early days of COSIA but haven’t done much on in the last seven years is to help the sector share its story of innovation and environmental performance improvement.

“Frankly it’s a great story; we should all be proud of the fact that we’re working together to create this great story and so you will see COSIA and our members out and about this year talking about these great stories.”

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