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Environment

Our environmental efforts are focused on emissions reductions, lowering our freshwater use, and asset retirement to restore landscapes to their pre-disturbed state

Environment Highlights

Emissions intensity targets of 0.024 tCO2e/boe by 2025 and 0.020 tCO2e/boe by 2030

On track with freshwater reduction target in southeast Saskatchewan operations

Achieved target of reducing inactive well inventory by 30% ahead of 2031 timeline

GHG Emissions Reduction

Taking action to combat the risks of climate change is a priority for us and our stakeholders. We consider the GHG emission impacts at every stage of development and seek to prevent emissions through prudent planning to mitigate emissions through the application of new technologies and improved practices.

We set an ambitious emissions reduction target in 2021 of reducing our GHG emissions by 50% by 2025. By year-end 2021, we reduced our scope 1 emissions intensity by 51%. Our success in achieving this target has led us to set a subsequent target of achieving a scope 1 and 2 emissions intensity reduction target of 38%, from our 2020 baseline, by 2030.

Water Use

Over the last four years, we’ve made significant progress in reducing the use of freshwater in our southeast Saskatchewan operations. Additionally, by using produced water in our waterflood operations, we have increased the amount of water we recycle, thereby reducing both the need to withdraw additional freshwater and the associated disposal volumes.

As a result of our success with these initiativaes, we’ve developed two corporate water targets to build upon the strength of our existing water management and performance:

Asset Retirement

Our full-cycle view of responsible asset development ensures that landscapes are restored to their pre-disturbance state and that our abandonment and reclamation end of life obligations are adequately funded. As part of our commitment to proactively addressing our end-of-life obligations, we have achieved our target to reduce our corporate inactive well count by 30% from our 2021 post non-core disposition baseline by 2031.

Biodiversity Protection & Management

We consider our obligations under existing operating licenses as well as the expectations of our stakeholders. On top of ensuring we meet all applicable regulatory requirements, we consider additional criteria to prioritize biodiversity considerations in our operating areas when operating on protected lands, within critical special habitat, on lands that have unique features such as wetlands, or on lands that are of cultural significance.

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Social

Our greatest responsibility is ensuring the safety and well-being of our employees, contractors and community partners. Our safety performance demonstrates our track record of continued performance improvement. This is just one aspect of our social focus.

Governance

Our governance model ensures strong oversight of ESG risks and opportunities. We routinely assess the oversight of key issues to ensure we mitigate risk and capitalize on opportunities. We also continue to evolve our transparency and disclosure to give investors and stakeholders greater insight into our decision making and priority focus.

ESG Reporting

We are committed to enhancing our ESG reporting and ensuring we maintain robust practices, set meaningful targets and report accurate, relevant performance data and information.