Message to Stakeholders

A Message From our CEO

Crew has always integrated Environmental, Social and Governance (“ESG”) principles throughout the organization and we now have the privilege of publicly showcasing our practices, policies, targets and achievements. I am proud to share Crew’s inaugural ESG report, presented in digital format as a reflection of our commitment to think outside the box and adapt to the evolving needs of our stakeholders.

At the heart of our Company is the word ‘crew’, a group of people working together to achieve a common goal. For Crew, people are the single most important facet of our organization, supported by a culture of environmental responsibility and ethical governance. We truly believe that the long-term success and sustainability of our Company requires careful consideration of people, the planet and profitability. With the continued development of our Montney natural gas assets, Crew is contributing a cleaner source of energy to meet growing global demand. As Canadians, we should all be proud of the strides our industry has made to reduce emissions, minimize the environmental footprint and develop new technologies that can be shared globally so other parts of the world can make the transition to cleaner energy sources such as natural gas and LNG.

Crew places a strong focus on workplace safety, with the protection and wellbeing of employees and contractors at the foundation of our operations. Our goal is to ensure everyone gets home safely at the end of each work day. Accordingly, we are very proud of our strong safety track record, having exceeded 1,000 days without any employee or contractor lost time injuries and having incurred only two recordable injuries in 2020 across our entire workforce. We believe our robust workplace policies, employee training, and overall safety culture encourages sustained safety outperformance whether in the field or the office.

When the COVID-19 pandemic struck, the health and safety of Crew’s employees, contractors, partners and the general public became the highest priority, and we rapidly transitioned our Calgary office to remote working, leveraging technology and the strength of our team’s bond to seamlessly drive forward. During the pandemic, we established a bold and innovative two-year development plan targeting significant production growth, higher facility utilization, lower operating costs, meaningful debt reduction and enhanced financial flexibility. We hedged a significant portion of our forecast production to mitigate risk, improve margins and increase cash flow, supporting Crew’s long-term sustainability.

Adopting this plan in the middle of a global pandemic was a bold and innovative move, demonstrating Crew’s willingness to do what’s right for our Company, even if that means pivoting in one direction while everyone else is going the other. We are always looking for better and smarter ways to operate. By seeking out a variety of views and perspectives from individuals across the organization, we benefit from the diversity of thought to help us make better business decisions, while fostering a sense of inclusion and belonging.

Crew takes an entrepreneurial approach to our operations and we leverage technological advancements and cutting-edge techniques both on-surface and below the surface. Deploying advanced technologies contributed to Crew setting an industry record for the fastest Montney well drilled in northeast BC during the first quarter of 2021. Our strong environmental performance and focus on innovation draws on the ingenuity of our crew, where people are always encouraged to identify better, cleaner and lower-cost ways of doing business. As a result, we are proud to report reductions across numerous operational inputs, including dramatically reducing fresh water use, gas plant flaring, spills or asset integrity concerns. In addition, Crew provides our own natural gas to power bifuel-frac fleets and rigs rather than using diesel and we are installing a waste heat recovery unit** at one of our plants to reduce GHG emissions while allowing for increased condensate production.

One of the ground-breaking technology projects we are most proud of is the use of a spoolable temporary surface pipeline which was the first to be deployed in Canada. By running this surface pipeline to transfer produced water during fracturing operations, Crew has effectively removed approximately 18,756 two-way truckloads from the road, lowered our GHG emissions and preventing vehicle accidents and spills. This is truly a game-changer, as this initiative has already prevented an estimated 640 tonnes of CO2 from being emitted into the atmosphere and will meaningfully reduce capital and operating costs which helps to enhance margins. This is a good example of how our willingness to do things differently and adopt new technologies is a win-win-win through improved safety measures, reducing our environmental footprint and enhancing investment returns. Since Crew paved the way with this surface pipeline, we understand that several of our peers intend to replicate the project.

Crew aims to be a valued and welcome member of the communities where we operate, live and work, and our relationships with Indigenous communities are a critical component of the Company’s operational success. We continually engage with Indigenous communities with an approach of understanding and respect to their culture and traditional connection to the land. Crew has benefited from the positive relationship with Indigenous communities and the utilization of Indigenous owned or aligned businesses. Crew has also donated more than $580,000 to various charities since 2017, while also volunteering time and human resources to local organizations and initiatives. By executing our strategy of responsible energy development, Crew positively impacts local economies by contributing to employment, remitting taxes and making royalty payments, all of which help to build schools, roads and infrastructure, while supporting local communities and charities.

Our vision is to build a company that is sustainable, profitable and respected while providing our shareholders with positive returns. As you explore Crew’s digital ESG report, you will see what sustainability means to us: a commitment to environmental, social, financial and governance excellence.

“We are grateful for the support of all stakeholders as Crew continues to provide energy that creates a better tomorrow.”

Dale O. Shwed
President and CEO
Dale Signature

From Our Board of Directors

“On behalf of the Board, I would like to thank all of Crew’s stakeholders for your contributions to the creation and development of our differentiated and sustainable energy company.”

– John Brussa, Chairman of the Board

For nearly 20 years, the Board of Directors of Crew have embodied strong governance and oversight with a track record of making prudent decisions, and implementing sound policies and procedures that support the healthy growth of our business and community. Accountability truly matters at Crew and we have demonstrated this by tying executive compensation to key ESG initiatives along with other critical components that contribute to building strong organizations.

Crew has continued to advance our governance initiatives, including by addition of Ms. Gail Hannon to our Board of Directors, bringing a fresh perspective and further diversification. Today, 40% of Crew’s independent Board members are women and we will continue to assess the skills and experience that may be needed as we plan for Board succession. During 2020, we established a Corporate Governance and Environment, Health, Safety, and Sustainability (“GEHS&S”) Committee, charged with the oversight of Crew’s ESG and sustainability performance. Every quarter, this committee meets to review the Company’s performance in these areas; highlighting points where Crew excels while continually noting room for improvement.

Crew’s success to date in advancing our environmental, social and governance strategies have only been made possible through the hard work and dedication of our employees and management team. As the Chair of Crew’s Board, I am proud of the Company’s ability to responsibly develop our assets while remaining respectful of people, the planet and profitability.

** Crew gratefully acknowledges assistance from the Province of British Columbia’s CleanBC Industry Fund for their support of this project.