corporate-responsibility

Being a responsible corporate citizen means we are committed to the highest ethical standards and operating with great care in all we do.

A message from the President and CEO to our Stakeholders

At Precision Drilling, we believe Corporate Responsibility is integral to our long-term High Performance, High Value business strategy. As a company that relies on our Passionate People to deliver services to our customers, our first corporate responsibility is to our employees around the globe. It begins with recruiting the best people, and continues with training, providing career development opportunities and keeping them safe by providing the best safety protocols we can envision. Our Core Values, Key Beliefs and Target Zero Rules reinforce the importance we place on our work force and are recognized through our strong safety performance and employee retention results. This focus on corporate responsibility continues with the design and operational excellence of our Super Series Rigs and Alpha technologies, where we believe there is unique alignment between reducing operating costs and reducing our environmental footprint and GHG emissions. Finally, our commitment to ethics and integrity is deep-rooted into our High Performance, High Value strategy and guides every aspect of our operations, our decisions and shapes the foundation of our sustainability goals.

The coronavirus pandemic is challenging the health of millions of people around the globe and the economic engine that sustains our way of life. During these difficult times, our Passionate People have remained committed to providing our services to customers so they can deliver the energy needed to power our homes and hospitals, transport medical patients and supplies, and maintain the necessities of everyday life.

We continue to deliver our High Performance, High Value services by offering better than ever optimized rig designs and digitally driven efficient processes, which enhance our ability to drill wells safer and faster and lower costs for our customers. Our ability to produce these results safely, predictably and repeatably minimizes our environmental impact and drives revenues for our core business. Our focused social and community involvement initiatives enhance our corporate brand, minimize the potential impact of unforeseen business interruptions, and serve to enhance our retention and recruitment processes by allowing us to choose from the best of the best to join the Precision team.

Over our long history we have remained focused and committed to the development of creative solutions and partnerships to help make our world better. Last year, we partnered with the University of Calgary to develop new research to increase efficiencies in the drilling process and reduce environmental footprint; these efforts continued in 2020. This year, we joined Shell International Exploration and Production and Evor Technologies to drill geothermal wells for a unique process that connects two wells and pumps water between them, forming a closed loop to harness heat from the planet’s core. This geothermal technology provides us with the opportunity to use our existing drilling rig fleet while providing sustainable emission-free energy to the world. This year we also formed a consortium with Tourmaline Oil Corporation and Caterpillar Inc. to develop a clean burning natural gas generator to power existing electricity-powered drilling rigs. We are excited about these projects and committed to imagining new ways of delivering the energy we all depend on in the most efficient and environmentally friendly manner possible.

From our Board of Directors’ commitment to governance excellence to our enduring culture of delivering operational excellence to our customers, Precision delivers results the right and responsible way every day. We are taking a continuous improvement approach to our ESG performance, and this first report is an example of our commitment to enhance our transparency on ESG-related issues to our stakeholders.

We are committed to operate with the highest ethical standards and maintain the highest priority on the safety and health of our workforce and the protection of the environment and the communities where we operate. We are committed to our ESG goals and strategy and look forward to continuing to share our ESG performance and targets in 2021.

Kevin Neveu
President and Chief Executive Officer