Climate Change Data

Environmental Metrics

ESG Focus Areas

• environmental management
• health and safety
• leadership culture
• community investment
• stakeholder engagement
• corporate governance
• climate change

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• volatile commodity price and capital market environments
• rapid decline in commodity prices
• COVID-19 pandemic and its impact on the global economy

Mitigation Strategies

• reduced capital budget to preserve balance sheet strength
• reduced dividend to preserve the Company’s strong financial position
• maintained strategy to physically and financially diversify its realized natural gas prices

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• regulatory changes, market shifts

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Sustainability Accounting Standards Board’s “Extractives & Minerals Processing Sector: Oil and Gas - Exploration & Production Sustainability Accounting Standard” framework, Task Force on Climate-related Financial Disclosures

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Responsible Energy Development
• Safety
• Emissions Reduction

Environmental Achievements

• Achieved certification of 100% of assets under Equitable Origin’s EO100™ Standard for Responsible Energy Development (largest production base certified under this standard in Canada).

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Volatility of Commodity Prices
• Adverse Economic Conditions
• Political Uncertainty and Geopolitical Risk
• Lack of capacity on gathering and processing facilities, pipeline systems, and railway lines
• Opposition by Indigenous groups
• Environmental Compliance
• Climate Change (transition and physical risks)
• Skilled Workforce
• Development and Production Risks
• Project Risks
• Regulatory Approvals
• Reputational Risk
• Changing Investor Sentiment
• Asset Concentration
• Information Technology Systems and Cyber-security
• Hydraulic Fracturing
• Liquidity
• Inflation and Cost Management
• Third-Party Credit Risk
• Variations in Foreign Exchange Rates and Interest Rates
• Royalty Regimes
• Competition
• Litigation
• Insurance Coverage
• Reserves Estimates
• Derivative Risk Management Contracts

Mitigation Strategies

• Risk management arrangements (price and currency hedging)
• Disciplined capital allocation framework
• Strong balance sheet and investment-grade credit rating
• Market diversification strategy
• Long-term natural gas supply agreement with Cheniere Energy
• Commitment to transparent and comprehensive sustainability reporting
• Planned and scheduled approach to abandonment and reclamation activities
• Maintaining sufficient cash and cash equivalents, along with other sources of capital
• Cost management strategies
• Insurance coverage
• Internal controls and risk management programs

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Wildfires
• Flooding

Transition Risks

• Regulatory changes
• Market shifts
• Changing investor sentiment
• Decreased demand for fossil fuels

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Equitable Origin’s EO100™ Standard, GRI, SASB, TCFD, UNGC

Certifications: EO100™

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental, Social, and Governance (ESG) performance
• Sustainable energy production
• Shareholder returns
• Community relations
• Indigenous relations
• Climate change

Environmental Achievements

• Not disclosed

Social Achievements

• Achieved record safety performance with the lowest total recordable injury frequency (TRIF) in company history (0.36), a 16% year-over-year improvement.
• Increased engagement amongst frontline staff in proactively managing safety risks.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Volatility of commodity prices
• Adverse economic conditions
• Political uncertainty
• Lack of capacity on gathering and processing facilities, pipeline systems, and railway lines
• Opposition by Indigenous groups
• Environmental compliance
• Climate change concerns (transition and physical risks)
• Competition for skilled workforce
• Development and production risks
• Project risks (delays and cost overruns)
• Regulatory approvals
• Reputational risk
• Changing investor sentiment
• Asset concentration
• Information technology systems and cybersecurity
• Hydraulic fracturing regulations
• Liquidity
• Inflation, cost management, and rising interest rates
• Third-party credit risk
• Variations in foreign exchange rates and interest rates
• Royalty regimes
• Industry competition
• Litigation
• Insurance coverage
• Reserves estimates
• Derivative risk management contracts

Mitigation Strategies

• Risk management arrangements (hedging)
• Disciplined approach to capital allocation
• Strong balance sheet and liquidity
• ESG policies and practices
• Stakeholder engagement
• Planned and scheduled approach to abandonment and reclamation activities
• Transparent and comprehensive sustainability reporting
• Cybersecurity risk assessments and training programs
• Cost management strategies
• Continuous monitoring of credit exposure
• Insurance coverage

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Wildfires
• Flooding

Transition Risks

• Regulatory changes
• Market shifts
• Changing investor sentiment
• Pressure to reduce financing and insurance

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed