Cathedral Energy Services Ltd.
Climate Impact & Sustainability Data (2017)
Reporting Period: 2017
Environmental Metrics
ESG Focus Areas
- Health and Safety
Social Achievements
- Exceeded health and safety objectives for the year.
Climate Goals & Targets
Environmental Challenges
- Continued commodity price volatility impacting activity levels
- Intense competitive pressure and continued customer attention on drilling costs - impacting pricing
- Labor availability and vendor supply and price challenges - impacting expenses
- Change in client’s drilling practices and the downhole drilling environment becoming more severe
- Equipment damage and equipment lost-in-hole, constraining job capacity
- Clients reluctant to pay for damages caused by their drilling practices
Mitigation Strategies
- Improved ability to recover equipment damages and had very good success recovering funds for equipment lost-in-hole from clients
- Equipment modifications and performance enhancements
- Aggressively ramped up capital spending program to alleviate equipment constraints and to start developing and funding a new line of high-performance motors
- Invested $11.3 million in new equipment, replacing equipment lost-in-hole and upgrading existing equipment
- Drilling Engineering and Sales teams worked with clients to recover equipment damages and assist them with improving their drilling practices to mitigate them