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Former Worley & Obetz exec, staffers form new company

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Seth Obetz, a former executive of defunct energy firm Worley & Obetz, is leading an effort to form a new energy company.

A sign Tuesday morning on the door of the Worley & Obetz headquarters in Penn Township, Lancaster County.
A sign Tuesday morning on the door of the Worley & Obetz headquarters in Penn Township, Lancaster County. - ()

He announced the venture Tuesday evening on a website for the company, called Obetz Energy.

Details were sparse, and efforts to reach Obetz have not been successful. But in an online statement, he wrote:

"We have organized a great group of former employees and customers to start up a fantastic energy, heating and cooling company. Our goal is to be operational in July; providing very competitive, top quality, propane, heating oil, heating and air conditioning services, electricity and natural gas. Our caring and attention to you will be unparalleled."

Obetz was vice chairman of Worley & Obetz, based in Penn Township, which closed Monday amid reports it is being investigated for an alleged fraud that could cost lenders millions of dollars. 

The statement from Obetz Energy was silent on staff size, sources of the company's funding and on whether or how it would be affected by the potential liabilities of the former Worley & Obetz.

In related news, news outlet LNP reported that a sister company of Worley & Obetz, Ranck Plumbing Heating and Air Conditioning, also has closed.

Based in East Hempfield Township, Ranck in May purchased the residential HVAC division of Triangle Refrigeration Co. The deal brought Ranck's employee count to roughly 70 people, according to Business Journal records. It served customers in Lancaster, York and Berks counties.

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Jim June 7, 2018 9:27 am

I support The Obetz family new endeavor. They deserve nothing but the best! Too bad one or several crooks brought them down. Remember Town and Country Leasing and The Bank of Lancaster County's failure due to a similar internal fraud?

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Dannyric June 6, 2018 9:03 pm

Maybe you wait until the mess you're in is cleaned up before you put yourself out there starting another company...

Concerned Taxpayer June 6, 2018 9:10 am

This is nothing new...except that the people that did this at Worley and Obetz ran out and the company took the fall. I know company owners that do this...they falsify documents to increase their credit line. Some banks will provide a credit line $10+ million without requiring an full 3rd party Audit with an Opinion. You get 4 banks...thats $40+ million. As long as they get paid they banks ignore the red flags and the whistle blowers. I'm hoping Obetz is able to navigate through this and get the support he needs to save as many jobs as possible and hopefully customers see that Obetz wasn't evolved. Banks really need to be more conservative and total credit lines above $5 million should require and Audit Opinion no excuses.

Elizabeth June 6, 2018 8:47 am

Wishing them the best of luck.

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