Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental & Regulatory Compliance
• Ecological Footprint
• GHG Emissions
• Occupational Health & Safety
• Workforce Diversity & Inclusion
• Gender Equality & Women in the Workplace
• Ethics and Integrity
• Enterprise Risk Management
• Cybersecurity
• Supply Chain Integrity (Human Rights)

Environmental Achievements

• Avoided 348 metric tonnes of CO2 equivalent emissions by not combusting diesel in Alaska in 2020.
• Avoided emissions by 162 tonnes at one international land well using energy transition technology.
• Saved more than 34,000 gallons of diesel fuel over a 180-day period using parallel power technology systems in Alaska.

Social Achievements

• Implemented a OneParker workforce mentality to recruit, retain, develop, and reward talented people.
• Created Drill Site Solutions program in Canada to encourage ESG initiatives.
• Planted more than 500 acacias in Ukraine.
• Donated food and blood drives in India during COVID-19.

Governance Achievements

• Established a robust Enterprise Risk Management (ERM) process.
• Implemented a comprehensive cybersecurity program.
• Redesigned supply chain agreements to include human rights commitments.
• Created a new Human Rights standard aligned with UN principles.

Environmental Challenges

• Reducing greenhouse gas emissions from diesel combustion in rig activity.
• Increasing gender diversity in U.S. operations.
• Improving human rights practices in the supply chain.
• Increasing local hiring and community-based activities.
• Measuring the percentage of spending on local suppliers in every GeoMarket.

Mitigation Strategies

• Improving methods to track diesel consumption.
• Establishing a generally accepted approach for setting specific milestones for increasing gender diversity.
• Increasing the number of supplier contracts that include supply chain management human right commitments.
• Increasing local hiring and GeoMarket community-based activities.
• Embarking on a feasibility study to evaluate the capability to map data to measure the percentage of Parker Wellbore’s spending on local suppliers.

Supply Chain Management

Supplier Audits: Annual

Responsible Procurement

• Competitive bidding
• Due diligence process (credit and financial history, references, conflicts of interest, social factors)
• Restricted party screenings
• End-user certificates
• Evaluation of quality and compliance systems, HSE record, and capability to service global operations

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Changes in demand for products and services due to climate change

Opportunities

• Geothermal projects
• Plug and Abandonment (P&A) services

Reporting Standards

Frameworks Used: GRI, UN SDGs, Paris Agreement

Certifications: ISO 14001

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 16 (Peace, Justice and Strong Institutions)

Parker Wellbore's activities align with these SDGs through geothermal projects, local hiring practices, and ethical business conduct.

Sustainable Products & Innovation

• Geothermal drilling services
• Plug and Abandonment (P&A) services
• Energy efficient technologies

Awards & Recognition

• Indian government recognition for prompt tax filing and payment during COVID-19

Environmental Metrics

ESG Focus Areas

• Environmental & Regulatory Compliance
• Ecological Footprint
• GHG Emissions
• Occupational Health & Safety
• Workforce Diversity & Inclusion
• Gender Equality & Women in the Workplace
• Ethics and Integrity
• Enterprise Risk Management
• Cybersecurity
• Supply Chain Integrity (Human Rights)

Environmental Achievements

• Expanded emissions tracking and reporting from a small segment of Scope 1 to a broader overview of Scope 1 and 2 emissions.
• Installed Tier IV generator sets in Alaska
• Research and short-listed fuel additives
• Implemented In-Vehicle Monitoring Systems (IVMS) across our US fleet to improve driving performance and emissions tracking.

Social Achievements

• Improved Total Recordable Incident Rate (TRIR) in 2021 from 0.86 to 0.58 in 2022.
• Increased diversity and nationalization tracking across all levels of the organization.
• Implemented flexible work schedules, allowing remote work.

Governance Achievements

• Established our Energy Transition group within Parker Wellbore to actively seek out and develop opportunities to help our customers with Geothermal, Carbon Capture, and Well Abandonment operations.
• Automated Entertainment, Travel, Gifts & Donations (ETGD) procedure.
• Updated the Parker Wellbore Code of Conduct.

Climate Goals & Targets

Environmental Challenges

• Climate change impacts on Alaskan operations (reduced winter season), coastal operations (rising seas, stronger storms), and Caspian Sea operations (falling water levels).
• Need to expand emissions tracking to include Scope 3 emissions.

Mitigation Strategies

• Building emissions tracking program to understand carbon footprint better and work toward the goals of the Paris Climate Agreement.
• Implementing emissions reduction solutions upstream and downstream of power generation equipment.
• Strategy for eliminating rig site emissions involves the use of high line (grid) power and developing key alliances to help bring the latest hydrogen fuel cell technology to market.

Supply Chain Management

Responsible Procurement

• Human rights language included in supplier add process; 44 signed acknowledgments or commitments received.

Climate-Related Risks & Opportunities

Physical Risks

• Warming global temperatures, rising seas, stronger storms, falling water levels

Opportunities

• Geothermal, Carbon Capture, and Well Abandonment operations

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UN SDGs

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 13 (Climate Action)

Goals and initiatives align with environmental and social components of UN SDGs.

Environmental Metrics

ESG Focus Areas

• Environmental Compliance
• Greenhouse Gas Emissions
• Energy Transition Business Strategy
• Occupational Health & Safety
• HSSE Performance
• Diversity and Inclusion (D&I)
• Workforce Demographics and Goals
• Commitment to Work-Life Balance and Employee Well-being
• Commitment to Integrity
• Enterprise Risk Management
• Cybersecurity
• Supply Chain Integrity

Environmental Achievements

• Reduced Total Recordable Incident Rate (TRIR) from 0.58 in 2022 to 0.38 in 2023 and Lost Time Incident Rate (LTIR) from 0.17 to 0.10.
• Upgraded Rig 272 engines to meet EPA Tier IV emission requirements.
• Successfully piloted remote viewing technology for tubular running services, reducing carbon emissions.
• Implemented real-time data collection on all relevant engines to quantify emissions per drilling operation.
• 10% fuel savings realized in UAE machine shop through fuel additive trial.

Social Achievements

• Improved recruiting and onboarding KPIs: Hiring Velocity (55% in 2023 vs 39% in 2022), Time to Hire (46 days vs 50 days), Average Processing Time (60 days vs 97 days).
• Established a global Corporate Social Responsibility (CSR) Committee.
• Global nationalization rate of 76% in 2023, with 81% of new hires from local populations.
• Participated in over 60 community and employee engagement activities across 12 countries.
• Awarded 96 Vision Awards for proposals resulting in over $257,000 in cost savings and $110,000 in revenue generation.

Governance Achievements

• Enhanced Compliance program with in-person and online training, achieving a 93% completion rate for the Annual Code of Conduct course.
• Improved Entertainment, Travel, Gifts & Donations (ETGD) reporting process, resulting in a nearly 300% increase in reports.
• Reorganized global supply chain group to better integrate corporate-level subject matter experts and embed new SCM leadership positions in the Eastern and Western Hemisphere regional leadership teams.
• Successful expansion of the corporate electronic supplier addition process by implementing the automated software in five countries in the Middle East.

Climate Goals & Targets

Environmental Challenges

• Increased rig activity in 2023 led to a spike in fuel consumption and associated emissions.
• Historically high turnover rates in the oilfield services market.

Mitigation Strategies

• Implementing real-time data collection on all relevant engines to quantify emissions per drilling operation and identify reduction opportunities.
• Improved recruiting and onboarding processes to reduce turnover.
• Implementing Visual AI to supplement human performance deficiencies and improve safety.

Supply Chain Management

Responsible Procurement

• Human rights commitments in contracts with new and existing suppliers

Climate-Related Risks & Opportunities

Opportunities

• Geothermal
• Carbon Capture & Storage (CCS)
• Well Abandonment

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UN SDGs

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 13 (Climate Action)

Initiatives align with UN SDGs through efforts in geothermal energy, workforce development, and greenhouse gas emission reduction.

Awards & Recognition

• Four Outstanding Operational Excellence Awards from Chevron for Rig 269 in Bangladesh