Precision Drilling Announces Release of Second Annual Corporate Responsibility Report, Creation of Environmental Team and Lau...
15 Luglio 2021 - 12:30PM
Precision Drilling Corporation (“Precision” or the “Company”) is
pleased to announce several key Environmental, Social and
Governance (ESG) accomplishments aligned with our High Performance,
High Value strategy and one of our three 2021 strategic priorities
to “demonstrate leading ESG performance”.
Yesterday, Precision released our second annual
Corporate Responsibility Report. The report highlights the
Company’s progress in ESG efforts, and provides an outline of
Precision’s ESG strategies, focus areas, and performance. In
addition, we have further aligned our report with the
Sustainability Accounting Standards Board (SASB) and Task Force on
Climate-Related Financial Disclosures (TCFD) guidelines to create
an even more informative and relevant overview for those interested
in learning more about ESG at Precision.
Key Highlights from Precision’s Corporate Responsibility Report
include:
- Best-ever health and safety performance
- New and existing technologies to reduce wellsite Greenhouse Gas
(GHG) emissions
- Partnership in geothermal energy development
- LEED Certified corporate offices
- Creation of Environmental (E) and Social (S) Teams
- Increased investment in our employees and communities
- Expanded ESG metrics in performance-based compensation
plans
- Scholarship and internship programs
- Robust ethics and compliance culture
The report can be accessed on Precision’s website here.
Earlier this year, Precision established an
“E-Team” comprised of a well-qualified and diverse group of leaders
from across the organization to bolster the Company’s
sustainability efforts, specifically those relating to the
environment and emissions reduction. The team has been focused on
coordinating and developing strategies, plans, and technologies to
further reduce environmental impact while improving efficiency,
return on investment, and social perception for Precision’s
customers. The E-Team is committed to partnering with suppliers,
customers, industry groups, and government agencies to innovate and
implement green drilling technologies. This collaborative approach,
along with Precision’s position as a drilling technology leader,
will continue to result in more eco-friendly drilling solutions for
our customers.
We are also pleased to announce the brand launch
of our EverGreenTM suite of
environmental solutions, bolstering our commitment to reduce the
environmental impact of oilfield operations. We have a longstanding
commitment to operating efficiently and with environmental
stewardship dating back to the 1990’s when we ran our first
electric grid-powered rig. Since then, Precision has continued to
make strategic investments to remain at the forefront of
technological innovation including deploying our first bi-fuel
powered rig in 2010, first natural gas-powered rig in 2013, and
commercializing our Alpha suite of technologies to improve drilling
efficiency in 2019.
Precision’s
EverGreenTM suite of
environmental solutions is comprised of:
- EverGreen Monitoring: Precision’s Integrated
Power & Emissions Monitoring System provides environmental
insights as they occur, monitoring fuel consumption (diesel and
natural gas), power generation KPIs and real-time GHG emissions.
Measurements may be extended to boilers, refueling stations and
flare lines with a comprehensive power and emissions report.
- EverGreen Energy: With newly designed and
digitally enabled drilling rigs and access to oilfield data and
analytical tools, technological and process improvements have
decreased drilling time and increased efficiency tremendously over
the past decade. Highly efficient and faster wells undoubtedly
reduce drilling GHG emissions and the next step change in emissions
reduction will be delivered through onsite power generation,
displacing diesel fuel as the primary fuel source for drilling
operations. Learn more about Precision’s EverGreen Energy
technologies here.
- EverGreen Fuel Cell: Precision believes
hydrogen will play a key role in reducing wellsite GHG emissions
and we are currently exploring technologies and partnerships that
will enable us to realize this vision. Hydrogen technologies can be
used in a wide variety of applications. Hydrogen fuel cells can be
used to convert hydrogen directly into electric power. Hydrogen
blending can be used to combine hydrogen with diesel and/or natural
gas to increase efficiency and reduce GHG emissions. Precision has
recently joined The Canadian Hydrogen and Fuel Cell Association
(CHFCA) where we are seeking to establish industry partnerships to
develop innovative fuel cell technology for the oilfield services
sector.
Precision is committed to delivering leading ESG
performance and we will be providing progress updates as we set
even higher standards for our employees, customers and communities
where we operate.
About PrecisionPrecision is a leading provider
of safe and High Performance, High Value services to the oil and
gas industry. Precision provides customers with access to an
extensive fleet of Super Series drilling rigs supported by an
industry leading technology platform that offers innovative
drilling solutions to deliver efficient, predictable and repeatable
results through service differentiation. Precision also offers
directional drilling services, well service rigs, camps and rental
equipment all backed by a comprehensive mix of technical support
services and skilled, experienced personnel. Precision is
headquartered in Calgary, Alberta, Canada. Precision is listed on
the Toronto Stock Exchange under the trading symbol “PD” and on the
New York Stock Exchange under the trading symbol “PDS”.
For further information, please contact:
Carey Ford, Senior Vice President & Chief
Financial Officer713.435.6100Precision Drilling Corporation800, 525
- 8th Avenue S.W.Calgary, Alberta, Canada T2P 1G1Website:
www.precisiondrilling.com
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