Penn West Petroleum CEO Visits TPH

Casey ColelloNews 2015

Dave Roberts has led this western Canadian focused conventional oil producer since June 2013 after most recently serving as Marathon’s COO. His career has focused on leading operational and efficiency improvements programs and fixing problems. At PWE, Dave faces myriad of challenges, the most significant of which are the need to de-lever a stretched balance sheet and streamline the organization in terms of headcount and cost structure. The company has met with recent success in this regard by selling non-core assets, suspending its dividend and implementing a significant layoff. From a strategic standpoint, PWE is committed to its conventional portfolio profile and ultimately views itself as a consolidator in its core asset areas in the Viking, Cardium and Slave Point. We will be watching closely to see how the shale-obsessed market responds to a company whose core value proposition is built on conventional assets and old-school engineering competence.

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Maynard Holt, Dave Roberts