Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Lower oil and natural gas prices during 2023
• Increased development costs
• Decreased oil and gas production
• Increased production expenses
• Increased overhead
• Accumulated excess costs resulting in insufficient net proceeds and reduction in expense reserve
• No unitholder distributions since July 2023
• Arbitration panel ruling on Chieftain settlement resulting in additional excess costs

Mitigation Strategies

• Trustee intends to review options for the Trust, including seeking financing to pay Trust obligations
• Note that if financing became available, it would have to be repaid with interest, and the Trust’s expense reserve would have to be replenished prior to any distributions to unitholders.

Supply Chain Management

Climate-Related Risks & Opportunities

Transition Risks

• Government actions to discourage production, reduce demand, or promote alternatives to oil and gas