ESG: Part of our DNA
ENVIRONMENT
Targeting Net Zero Emissions by 2030
- Decarbonization Path to Net Zero
- CCS program initiated
- Expect Scope 1 and Scope 2 emissions reduction of ~79% on an absolute basis and ~89% on a per boe basis by 2029, as compared to 2021 levels(1)
- Target to achieve Net Zero(2) by 2030(1)
- Zero Routine Vent program complete in 2023
- Flare reduction target – 10%/yr(3)
Water Management Prioritized
- >100,000 m3 of produced water to be re-used in completions
- Increasing produced water storage to assist with water recycling efforts
Biodiversity
- Reduce environmental footprint with pad drilling
- Commitment to reduce wetland impacts
Our People
SOCIAL
- Promoting education for Indigenous communities
- Driving to be a Safety Leader & Partner of Choice
- Donating time and resources to support a wide range of community services
Health & Safety
We believe that safety is an integral part of our business. Hammerhead recognizes the need for training, guidance, and resource allocation to ensure that our safety standards evolve with the changing circumstances and needs of our Industry.
We partner with contractors who share our safety values. In accordance with this principle, we do not differentiate among contractors, service providers, and employees when it comes to reporting injuries and have consistently maintained a Total Recordable Industry Frequency (TRIF) well below industry average.
Our goal is to achieve and sustain an injury-free workplace as we continue our safety journey to become a safety leader and a partner of choice.
Stakeholder & Community Engagement
We work hard to establish positive, stable relationships based on mutual trust and understanding with all stakeholders, including members of the local communities and Indigenous communities. Our goal is to establish mutually beneficial collaborations and facilitate positive outcomes that are the result of consultation, negotiation, and dedication to resolving differences.
Hammerhead is committed to supporting economic and social initiatives that provide benefits for our stakeholders. With a long-term investment approach, we are growing with our community through hiring local employees, sourcing local service providers and contractors, supporting local Indigenous contractors, and supporting local development through tax contributions and revenue generation.
$1 MM+
Invested and Donated to Community Initiatives
(From 2017 – 2022)
Indigenous Relations
We are committed to working collaboratively with Indigenous communities in an atmosphere of integrity, honour, and respect. We strive to facilitate constructive dialogues that will result in a better understanding of the impact of our projects in the area.
Equitable development of resources requires looking forward with a view to sustainable and responsible management of the environment, but it also requires looking back. The unique history and knowledge of the Indigenous communities in our areas of operations can help us shape a sustainable and equitable approach to resource development.
Friends of Hammerhead
- Aseniwuche Winewak Nation
- East Prairie Metis Settlement
- Gift Lake Metis Settlement
- Horse Lake First Nation
- Sturgeon Lake Cree Nation
- Sucker Creek First Nation
Accountability, Innovation, Debate, and Respect
GOVERNANCE
- 20% of employee variable compensation linked to ESG performance
- Expanding risk management to include sustainability focus areas
- Gold Creek and Karr assets were certified in December 2022 under the EO100™ Standard for Responsible Energy Development
We believe in the principles of good governance, and we value honesty, accountability, trust, respect, and integrity. We run our business on these principles; they are the foundation of long lasting and mutually beneficial relationships with and between our employees, contractors, consultants, officers, directors, and external investors and stakeholders. We believe in upholding the highest standards to meet or exceed industry regulations, and we adhere to our company policies and procedures, which are designed to enhance our sustainability efforts.
Our governance practices and policies are regularly reviewed, audited, and modified to ensure the current expectations are met and best practices are maintained.
(1) Subject to Hammerhead Board of Directors Approved to proceed. Assumes that each of Hammerhead’s crude oil batteries are converted to CCS from 2024 through 2029. Prior to any construction or sequestration activity, the Company must receive final approval from the Alberta Department of Energy. The timeframe of approval is dependent on regulatory review and will be received later in 2023 at the earliest. There is no guarantee that such approval will be received on this timeline or at all. Presently, Hammerhead does not have the right to sequester carbon emissions nor is it authorized to generate credits or monetize the emissions sequestered.
(2) Net Zero refers to Scope 1 and Scope 2 emissions.
(3) 10%/yr for 5 years using 2022 baseline.
Hammerhead
Hammerhead is a growth-oriented company based in Calgary, Alberta with production and development focused in the multi-zone, Montney light oil window.
Better Every Day.
Contact Information
525 8th Avenue SW (Suite 2700)
Calgary, Alberta T2P 1G1 Canada
Tel. +1 (855) 930-0560
24 Hour Emergency Response:
+1 (877) 431-5716
Whistleblower Hotline:
+1 (888) 280-0502