Board of Directors

Gordon M. Ritchie

Chairman - Calgary, Alberta

Mr. Ritchie has over 37 years of experience in the financial services business where he recently retired as Vice Chairman of Royal Bank of Canada (“RBC”) Capital Markets. He also served as Managing Director and Head of RBC’s Global E&P Energy Group and spent six years as President and Chief Executive Officer of RBC Dominion Securities Corporation in New York. Mr. Ritchie also held the position of Co-Head of RBC’s International Corporate Finance Group based in London, England. Mr. Ritchie holds securities industry regulatory designations in Canada, the U.K., and the U.S., and served for two years as a member of the New York area Advisory Committee to the New York Stock Exchange Board of Directors. He currently serves on the board of two other public companies. Mr. Ritchie holds a Masters of Business Administration from the University of Western Ontario and a Bachelor of Economics from the University of Alberta.


John Brydson

Director - Greenwich, Connecticut

Mr. Brydson has over 30 years of experience in the financial sector and has occupied senior roles in both major investment and commercial banks. Since 2012, Mr. Brydson has been a private investor. From 2010 until the end of 2012, he was Chairman of a small full-service management consulting firm, Hestan Consulting Group (HCG), which he founded. Prior to HCG, Mr. Brydson was a Managing Director with Credit Suisse First Boston, now Credit Suisse (CS), from 1995 until 2009, where he was in charge of the Multi-Product Event Trading group. He was also a Managing Director with Lehman Brothers in a similar function from 1983 until he joined CS. The early years of his career were spent as an equity analyst before joining Chase Manhattan Bank (Chase) in London in 1977. He transferred to the head office in New York in 1980 where he became a Vice President in the Project Finance Group, specializing in international projects in the energy, mining and metals sectors. He left Chase to join Lehman Brothers in 1983. Mr. Brydson holds an Honors Degree in Economics from Heriot-Watt University in Edinburgh, Scotland. Mr. Brydson served over 10 years as the President and a Board Member of The American Friends of Heriot-Watt University, a charitable organization, and remains on its Board. 

Member of the Audit Committee
Member of the Operations and Reserves Committee


Raymond D. Crossley

Director - Calgary, Alberta

Mr. Crossley is a corporate director. He is a member of the board of Pure Technologies Ltd. and the Canada West Foundation. Mr. Crossley retired in 2015 from the accounting firm of PricewaterhouseCoopers (“PwC”) after serving for more than 33 years. Mr. Crossley served as an elected member of the Partnership Board (PwC’s governing body) from 2001-2005. From 2005-2011, Mr. Crossley was the Managing Partner of PwC’s Calgary office, and from 2011-2013 was Managing Partner, Western Canada. In this role, he led PwC’s market activities in Western Canada. Mr. Crossley holds the ICD.D designation from the Institute of Corporate Directors and is a member of the Institute of Chartered Professional Accountants of Alberta. He graduated from the University of Western Ontario with a degree in Economics and Political Science. 

Member of the Audit Committee
Member of the Operations and Reserves Committee


Michael J. Faust

Director - Calgary, Alberta

Michael Faust was elected to the Board of Directors in 2018, following the Annual and Special Meeting and held the role of Interim President and CEO of Obsidian Energy from March 2019 – December 2019. Mr. Faust has over 35 years of industry, financial and leadership experience within the oil and gas sector, including diverse geological, geophysical and reservoir experience spanning many different basins and formations throughout the world. In March 2019, Mr. Faust became a director of Parker Drilling Company, a global, multi-faceted drilling and production service company. Since January 2017, he has been a Director of SAExploration Holdings, Inc., a NASDAQ-listed, global oilfield services company offering seismic data acquisition and logistical support services. Prior to his governance roles, he established a long career of increasing responsibilities with ExxonMobil and ConocoPhillips, culminating in roles as Vice President, Exploration, Land and Business Development at ConocoPhillips Alaska, Inc. and ConocoPhillips Canada Ltd., where he oversaw and managed the company’s exploration and strategy in those regions. Mr. Faust earned his Master of Arts degree in Geophysics from the University of Texas at Austin in 1984, after receiving his Bachelor of Science degree in Geology from the University of Washington in 1981. Mr. Faust is a Certified Petroleum Geologist and a member of the American Association of Petroleum Geologists (AAPG), and the Society of Exploration Geophysicists (SEG).

Member of the Operations and Reserves Committee

Edward (Ed) H. Kernaghan

Director - Toronto, Ontario

Mr. Kernaghan has over 15 years of experience in the financial services business. He held the position of Executive Vice-President at Kernaghan Securities, a firm he started along with his father, Ted Kernaghan, in 2001. He is currently a partner at Kernaghan & Partners and is President of Kernwood Limited which, together with various family members, owns over 33 million shares outstanding of the Company. Mr. Kernaghan also serves on a number of other boards of TSX listed companies. Mr. Kernaghan is a graduate of the University of Toronto with a Master of Science in Theoretical Physics, and he has a Bachelor of Science, Honors degree from Queens University.

Member of the Operations and Reserves Committee
Member of the Human Resources, Governance and Compensation Committee


Stephen E. Loukas

Interim President and Chief Executive Officer

Stephen Loukas was appointed Interim President and Chief Executive Officer of Obsidian Energy Ltd. effective December 5, 2019 and elected to the Board of Directors following the 2018 Annual and Special Meeting. Mr. Loukas has vast experience in corporate transactions, capital markets and leadership. He is a partner, managing member, and portfolio manager at FrontFour Capital Group LLC, a value-based investment management firm. Mr. Loukas held roles including Director at Credit Suisse Securities where he was a Portfolio Manager and Head of Investment Research of the Multi-Product Event Proprietary Trading Group, and at Pirate Capital where he was a senior investment analyst. Mr. Loukas has also worked within the Corporate Finance & Distribution Group of Scotia Capital where he focused on the structuring and syndication of leveraged loans and high yield debt.  Mr. Loukas started his career at restructuring firm Zolfo Cooper where he assisted corporate clients in the development and implementation of operational and financial restructuring plans. Mr. Loukas has previously served as a director of Xinergy Ltd. Mr. Loukas received a B.A. in Finance and Accounting from New York University.