Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental

Environmental Achievements

• Powerwave has been shown to reduce CO2 emissions during well stimulations and may be used in CO2 sequestration projects thereby potentially assisting Exploration and Production (“E&P”) companies in achieving carbon neutral targets.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Supply chain issues (access to well stimulation fluids such as acid, coiled tubing reels, rig replacement parts, etc.)
• COVID-19 related oilfield shutdowns and limited access to oilfields
• Pricing pressure on OFS companies
• E&P companies transitioning to new sustainability options

Mitigation Strategies

• Disciplined operating cost and capital expenditure controls
• Strong project execution and best-in-class service
• Exploring low-carbon opportunities in CO2 sequestration and geothermal operations
• Accessing government economic support mechanisms (CEWS, CERS)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• New environmental regulations

Opportunities

• CO2 sequestration projects
• Geothermal operations

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Powerwave technology for CO2 sequestration and geothermal operations

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Safety, Health and Environment
• Climate Change
• ESG (Environmental, Social, and Governance)

Governance Achievements

• Established Safety, Health and Environmental policy as part of its Corporate policy manual

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting supply chains, delaying stimulation work, and limiting oil field access.
• Termination of a distribution agreement in Saudi Arabia.
• Unrecognized revenues related to a General Services Agreement (GSA).
• Limited oil field access and marketing abilities due to the COVID-19 pandemic.
• Decreased Powerwave stimulations due to limited oil field access and marketing abilities related to the ongoing COVID-19 pandemic.

Mitigation Strategies

• Moved information technology systems to a cloud base.
• Developed information technology, health and safety protocols and guidelines.
• Tailored workforce to align with revenue streams.
• Prioritized distribution of key supplies to mitigate any adverse impacts of supplier reliance.
• Exercising disciplined operating cost and capital expenditure controls.
• Acquired Export Development Canada (“EDC”) Credit Insurance for receivables in Saudi Arabia and Kuwait.
• Significantly reduced discretionary spending and capital expenditures.
• Accessed government economic support mechanisms (CEWS, CERS).

Supply Chain Management

Climate-Related Risks & Opportunities

Transition Risks

• Future regulatory changes and associated compliance costs
• Commodity prices
• Access to markets and capital
• Social preferences
• General capital investment declines in the energy sector
• Reputational and ESG risk

Opportunities

• Powerwave’s smart technology reducing operating costs, decreasing volumes of water or chemical injection, reducing need for more frequent stimulations, and increasing near-term production.

Sustainable Products & Innovation

• Powerwave technology