Louis Chenevert Invested in the People and New Tech While at UTC

Louis Chenevert undoubtedly changed the course of United Technologies Corporation, helping to create the sustained powerhouse that it is today. In order to understand the role that he played, one must look to his past. After graduating from HEC Montreal, the business school belonging to the University of Montreal, Louis Chenevert spent fourteen years working for General Motors, helping to keep the company flourishing, while also creating an impeccable reputation for himself. He later moved on to Pratt & Whitney Canada, where after only six years, he became the President of the corporation.

During his time with Pratt & Whitney, he would continue to display his uncanny business sense and leadership abilities, and in 2006, became the head of United Technologies Corporation. Mr. Chenevert’s relationship with Pratt & Whitney played an integral role in his success with United Technologies Corporation, due to his foresight regarding a developing geared turbofan engine that was still in the early stages of development. Mr. Chenevert’s decision to continue the research and development of this innovative geared turbofan engine would effectively create a marriage between United Technologies Corporation and Pratt & Whitney.

Today, the geared turbofan engine, which cut emissions, as well as fuel consumption by an incredible margin, is utilized by 14 airlines and in 70 aircraft. The demand for this innovative engine helped to create jobs throughout the U.S. as Pratt & Whitney currently operates in a number of states, including New York, Connecticut, Georgia, Florida, Michigan, and Maine, with intentions on increasing exponentially over the next three years.

Although Mr. Chenevert constantly placed emphasis on remaining innovative, always seeking the newest technologies, he was just as dedicated to the people that worked for him, implementing an educational program that allowed his employees to garner degrees of their choosing at the expense of United Technologies Corporation. While Louis Chenevert has since moved on from United Technologies Corporation, his legacy will remain present, as current Chief Executive Officer, Gregory Hayes, continues to incorporate many of the ideas founded by Louis Chenevert to create a culture of winning.

Obsidian Energy Is On Pace To Hit Volume Targets

Like most energy producers, Obsidian Energy is seeking to earn profits in an environment where retail oil prices remain flat. The company focuses on maintaining energy-producing assets while keeping expenses to a minimum. Obsidian Energy currently produces around 30,000 BOE (Barrels of Oil Equivalent) each day. The total output includes light oil, heavy oil, and natural gas.


The company’s management has set a strategy based on commodity prices that have been trending down for the past few years.


Obsidian Energy has been spending less capital in anticipation of declining returns. The company has been able to pay less cash as their current projects keep producing at significant levels. Even with less investment money in play, they plan on delivering 31,500 BOE daily by the end of the year. Learn More Here.


Obsidian Is Expanding Production


The energy business is volatile, but barrel pricing has remained down as many world importers expect a spike in output. The key to profitability moving forward is keeping a tight rein on production, investment outlay, and expenses. David French, the current President and Chief Executive Officer of Obsidian has announced a systematic production plan that’s in-line with potentially low retail prices. The company, which maintains its headquarters in Calgary, Alberta, plans on stepping up their development program to its highest levels in three years now that they are retiring several legacy assets that ran with higher operating costs.


Management is also reinvesting money into the production centers with the highest production. The Cardium Waterflood Platform will get the lion’s share or funds this year with $80,000,000 put in. That’s exactly half of the years $160 million total outlay. The current plan also involves cutting expense to $13.00 to $13.50 BOE. Belt-tightening has been going on in the oil industry since 2013, and the new emphasis on controlling expenses appears to be paying off. Obsidian has been able to diversify their production and continued to manage their assets carefully. At the current time, the energy sector continues to face the middle of the road pricing demand. Obsidian is well-positioned for a firming of retail energy demand and prices.

Obsidian Energy Performance After Its Renaissance

Obsidian Energy is an oil and natural gas production company. The middle-sized company is based in Calgary, Alberta in Canada. The company was initially called Penn West Exploration Ltd., Penn West Petroleum, and Penn West Energy Trust. It changed its name during a shareholders’ meeting held on July 2017 after a series of changes that restructured the structures within the organization. Approximately 92% of the shareholders were in favor of changing the name of the organization to Obsidian Energy.


The mother company, Penn West, went through various high levels of debt that it managed to survive. Moreover, it underwent numerous accounting scandals that accrued in lawsuits that were resolved in court. The transformation of Obsidian Energy from the mother company, allowed it to reduce its net debts. The company has also channeled its focus on only for production areas that it deems key. The company also reduced its number of employees to 300. This improvement has enabled Obsidian Energy to function properly.


According to Dave French, the Chief Executive Officer of the company, the name Obsidian was chosen because obsidian is a volcanic glass that occurs naturally. Moreover, the volcanic glass can be sharpened and refined. The organization has the potential of succeeding in the industry given its transformation that allowed it to emerge stronger. Moreover, its assets, entrepreneurial spirit and professional staff put the company in a better position of succeeding in the Oil and Natural Gas industry. Get More Info Here.


The company has taken positive steps of collaborating with other companies in the industry in order to achieve a common goal. Obsidian Energy jointly ventured into the Manufacturing of Cold Flow in Peace River with China Investment Corporation. The partnership is referred to as the Peace River Operated Partnership (PROP). The partnership has invested a lot of resources into the venture in to manufacture cold flow from crude oil.


Obsidian Energy also focused on building a Cardium Waterflood Platform. The waterflood platform will sustain a reservoir pressure during the initial stages of production that will decrease the declining rates experienced on the new wells. For over decades, waterfloods have been used in the Cardium to elevate production and rates of recovery.


Source: http://boereport.com/2017/06/26/penn-west-changes-name-to-obsidian-energy-ltd-and-announces-voting-results-from-the-2017-annual-and-special-meeting-of-shareholders/

Louis Chenevert’s Journey to Success

It is through the successful people in our lives that we scope motivation. They are the reason we keep pressing on to achieve our goals. Through this legends, we can avoid the mistakes they made to become better products. We also get an idea of what to do next in our business to be prosperous. We also know what they did to be outstanding. Louis Chenevert is one of the many celebrated personalities. He is among the listed influential investors in the world.

Although he has gained popularity from other businesses, he is well known for the legacy he has as the CEO of United Technologies Corporation (UTC).
Louis was born and raised in Montreal, Quebec. Louis went to HEC Montreal, where he acquired a bachelor’s degree in Production Management. Louis never let the fundamentals of business he learned go to drain. Instead, he employed them in real life to become the iconic figure he is today. More and more companies continue to apply his strategies in their businesses.
The success of Louis Chenevert was not built in a fortnight. It was through hard work, dedication, and commitment that he became who is today. He began as an employee of General Motors, where he worked for fourteen good years. During his time here, he worked as a Production Manager. In 1993, he worked with Pratt & Whitney, an aircraft engine manufacturer. While here, the company improved tremendously. This led him to be made the CEO in six years’ time. His appointment as the Chief Executive Officer of United Technologies Corporation (UTC) was the most significant thing that ever happened in his career life.
The UTC is a high tech provision company. The company plays a major role in the air and conditioning sector and refrigeration. The Company also plays major roles like putting jet together that lead can be used by both the commercial and military industries.
With Louis Chenevert as the CEO, UTC  made significant steps. The company share price has increased by about 200%. That is from, $37 to $ 117.It is through this rise that UTC became the most prestigious conglomerate company in the United States, maintaining their significant stature even following Chenevert’s resignation in 2014.

The National Steel Car’s achievements under its hardworking President, Greg James Aziz.

National Steel Car has been the top North America’s railroad freight manufacturer under the leadership of Gregory James Aziz the President and CEO of the company since 1194. It has achieved this due to over 100 years of excellence in manufacturing, engineering and quality assurance. Greg Aziz notes that the cornerstone of the company is the people who have made the company more innovative, diverse and dynamic. He also believes that the continuous attention to the voice of the customer and relentless pursuit of excellence have established National Steel Car the company it is today. National Steel Car is the only rail car company certified ISO 9001:2008 in North America.


National Steel Car is among the oldest corporations in North America, and one among the few that exist in the country to date. many traditional corporations closed down due to inability to adapt to changing economic and technological times. National Steel Corporation has however managed to stay on due to the good quality products that it is known to manufacture. Click Here for Related Information.


According to Gregory J  Aziz , National Steel Company has a sense of purpose to move forward with determination, honor the traditions of its past, always to lead and to still focus on excellence and quality. Greg Aziz successfully steered the purchasing process of the National Steel Car in 1994 with the aim of transforming the Canadian company to the North America’s top railroad freight car manufacturer. Through team building and high engineering capabilities not forgetting human involvement, the company expanded its manufacturing capability to 12,000 cars annually from 3,500. The company also grew its employment level to 3,000 from 600.

National Steel Car has helped the Hamilton community in many other different ways. It has sponsored the Salvation Army, the United Way, Hamilton Opera and Theatre Aquarius and much more local charities. The Company holds the TTX SECO honor which is the highest quality award since 1996.All these achievements have come through the leadership of Gregory J. Aziz.


Gregory James Aziz is the President of National Steel Cars. He also holds the positions of CEO and Chairmanship of the company. He was born in Ontario London on April 30, 1949. He underwent his education at Ridley College and later joined Western Ontario University where he studied economics. Apart from his achievements in National Steel Cars, he has been sponsoring the Royal Agricultural Winter Fair together with his wife, Irene. It’s the Canada’s most prominent agricultural fair.

Greg Aziz and National Steel Car Remain the Leader in the Freight Car Industry

National Steel Car, located in Hamilton, Ontario is one of the world’s largest railroad car engineering and manufacturer. The company possesses more than 100 years of experience in the industry and has the reputation of delivering excellence.


Greg Aziz is the current Chief Executive Officer (CEO), President and Chairman of National Steel Car. He holds a degree in Economics from the University of Western Ontario. He began his career in the family wholesale food business. The company grew to become one of the largest importers of fresh foods in the world. Their field of distribution included the United States, Eastern Canada, Central and South America and Europe. After leaving the food industry, Gregory James Aziz took on challenges with several investment banking opportunities. One of his challenges was to organize the purchase of National Steel Car from Dofasco. The goal of the purchase was to bring National Steel Car back to its initial glory in the industry.


Under Greg Aziz’s leadership the company grew from manufacturing 3,500 railroad freight cars every year to 12,000 railroad freight cars every year. That also increased the employee ranks 600 to almost 3,000. The growth was completed by team building and investing in both the human and manufacturing component. The company employs innovative design and manufacturing and that gives them a wide edge over competitors. Gregory J. Aziz also employs a high level of excellence in every stop of the design and manufacturing process. They do not believe in taking shortcuts or doing what is easiest. See This Article.


Greg James Aziz set in motion the philosophy of National Steel Car. The company honors the traditions of the past, always moves forward with determination, focus on excellence and quality and to always be the leader in the industry. It is a blueprint that has worked well for National Steel Car not only in the design and manufacturing, but in keeping parts available for owners to help keep the freight cars rolling.


In addition to being a businessman, Greg Aziz is also a philanthropist. His philanthropy extends from his personal support of charitable causes to the National Steel Car Team. The company is committed to the community at large and has supported the Hamilton Opera, the Salvation Army and the United Way. The company also supports food drives for local food banks and that effort is supported by past and present employees. Aziz and his wife are sponsors of the Royal Agricultural Winter Fair, one of Canada’s largest agricultural fair.

Source: https://remote.com/greg-aziz