Climate Change Data

Deltic Energy Plc

Climate Impact & Sustainability Data (2019, 2023)

Reporting Period: 2019

Environmental Metrics

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • Maintaining production in the UK with ambitious targets for emissions of production and downstream use

Governance Achievements

  • Appointed Mark Lappin as independent non-executive Chairman
  • Appointed Sarah McLeod as Chief Financial Officer

Climate Goals & Targets

Short-term Goals:
  • Well investment decisions on Selene and Pensacola
  • Ongoing farm-out of Dewar
  • Progression of other gas licences
  • Award of additional licences in the latest UK licensing round

Environmental Challenges

  • Low commodity prices
  • Covid-19 pandemic
  • Commodity market volatility
  • Covid-19 pandemic impacting the Dewar farm-out process
Mitigation Strategies
  • Primary focus on gas means limited exposure to oil price
  • Well funded for current requirements, including drilling
  • Strict financial discipline and control, maintaining low overheads
  • Taken necessary precautions to ensure optimal business continuity during the Covid-19 pandemic
  • Expenditure associated with discretionary and non-critical path technical workflows will be constantly reviewed and rescheduled as required

Supply Chain Management

Responsible Procurement
  • Works responsibly with suppliers, and performance is monitored on an ongoing basis

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code 2018

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:21.78 tonnes CO2e
Scope 1 Emissions:0 kgCO2e
Scope 2 Emissions:6,807 kgCO2e
Scope 3 Emissions:14,968 kgCO2e
Total Energy Consumption:32,872 kWh

ESG Focus Areas

  • Climate Change
  • Health & Safety

Environmental Achievements

  • Certified as a carbon neutral business by offsetting 21.78 tonnes CO2e (Scope 1, 2 & 3 emissions) through Carbon Neutral Britain’s Climate Fund™ Portfolio.

Social Achievements

  • No reportable incidents or lost time injuries (LTIs) reported in 2023.
  • Implemented more flexible and efficient ways of working.

Governance Achievements

  • Followed the Quoted Companies Alliance’s (QCA) Corporate Governance Code 2018.
  • Established an audit committee, remuneration committee, and AIM compliance committee.

Climate Goals & Targets

Environmental Challenges

  • Significant headwinds in the political environment, including divided support for the oil and gas sector and uncertainty surrounding the Energy Profits Levy (EPL).
  • Uncertainty over the scope and nature of future licensing.
Mitigation Strategies
  • Engaging with policymakers to emphasize the importance of the oil and gas sector.
  • Continuing to deliver on its model of taking licenses from award through to drilling.
  • Seeking additional capital through partnership arrangements.

Supply Chain Management

Responsible Procurement
  • Works responsibly with suppliers

Climate-Related Risks & Opportunities

Transition Risks
  • Political and Government Policy Risks including net zero policies, changes to the hydrocarbon licensing regime & fiscal regime changes impacting both E&P taxation and environmental taxation
  • Social Licence to Operate and changing views of the E&P industry
  • Emerging Technology – CCS, Hydrogen & emissions reduction opportunities

Reporting Standards

Frameworks Used: TCFD (partially)

Certifications: Carbon Neutral Britain

Third-party Assurance: Carbon Neutral Britain Ltd