Calima Energy Ltd
Climate Impact & Sustainability Data (2018, 2021)
Reporting Period: 2018
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Competition for pipeline access has lowered gas prices, currently a 50-60% discount to Henry Hub prices.
Mitigation Strategies
- More than C$70 billion of new investments adding more than 8 bcf/d will more than double capacity. The existing pipeline network is being upgraded and new pipelines have been approved for construction.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Investment in H2Sweet technology to lower CO2 emission rates at Brooks.
- Multi-well pad drilling to reduce environmental footprint.
- Low water use due to no fracing at key Brooks asset.
- Montney gas will support the lowest CO2 emission/tonne LNG project in the world, LNG Canada.
Social Achievements
- Targeting zero lost time incidents.
- Active involvement in communities where Calima works, particularly with First Nations.
- Meaningful donations to various non-profit organizations.
Governance Achievements
- Majority independent board with diverse skillset, backgrounds, and experience.
- Policies and procedures for financial reporting, audit oversight, and risk mitigation.
- Key risk management practices for hedging and financial controls.
Climate Goals & Targets
Long-term Goals:
- Future upside through Montney assets’ exposure to massive global LNG markets
Medium-term Goals:
- Grow to 5,500 boe/d at Brooks and Thorsby by YE 2022
- Increase production above 5,500 boe/d through development drilling and strategic acquisitions
- Commence 24 well development drill program over next 18 months
- FID or completion of a strategic transaction on Calima Montney lands and infrastructure
Short-term Goals:
- Reduce net debt to < C$5 million by YE 2022