Precision Drilling Launches New Environmental Brand in ESG Push

Precision Drilling Corp. launched the brand launch of a suite of environmental solutions on July 15, as part of a push by the oilfield service provider to boost its ESG performance.

Based in Calgary, Alberta, Precision operates an extensive fleet of super series drilling rigs in Canada, the U.S. and internationally as well as offering directional drilling services, well service rigs, camps and rental equipment. The company, according to a release, has had a longstanding commitment to operating efficiently and with environmental stewardship dating back to the 1990’s when it ran its first electric grid-powered rig.

“Since then, Precision has continued to make strategic investments to remain at the forefront of technological innovation including deploying our first bi-fuel powered rig in 2010, first natural gas-powered rig in 2013, and commercializing our Alpha suite of technologies to improve drilling efficiency in 2019,” the company said in the release announcing the brand launch of EverGreen, which it said will bolster its commitment to reduce the environmental impact of oilfield operations.

Precision’s EverGreen suite of environmental solutions is comprised of:

  • EverGreen Monitoring: Precision’s integrated power and emissions monitoring system provides environmental insights as they occur, monitoring fuel consumption (diesel and natural gas), power generation KPIs and real-time greenhouse-gas (GHG) emissions. Measurements may be extended to boilers, refueling stations and flare lines with a comprehensive power and emissions report.
  • EverGreen Energy: With newly designed and digitally enabled drilling rigs and access to oilfield data and analytical tools, technological and process improvements have decreased drilling time and increased efficiency tremendously over the past decade. Highly efficient and faster wells undoubtedly reduce drilling GHG emissions and the next step change in emissions reduction will be delivered through onsite power generation, displacing diesel fuel as the primary fuel source for drilling operations.
  • EverGreen Fuel Cell: Precision believes hydrogen will play a key role in reducing wellsite GHG emissions and we are currently exploring technologies and partnerships that will enable us to realize this vision. Hydrogen technologies can be used in a wide variety of applications. Hydrogen fuel cells can be used to convert hydrogen directly into electric power. Hydrogen blending can be used to combine hydrogen with diesel and/or natural gas to increase efficiency and reduce GHG emissions. Precision has recently joined The Canadian Hydrogen and Fuel Cell Association (CHFCA) where the company is seeking to establish industry partnerships to develop innovative fuel cell technology for the oilfield services sector.

Additionally on July 15, Precision announced several other key ESG accomplishments including the release of its second annual corporate responsibility report highlighting the company’s progress in ESG efforts while also and providing an outline of Precision’s ESG strategies, focus areas and performance.

Precision also noted in the release that, earlier this year, it had established an “E-Team” to bolster the company’s sustainability efforts, specifically those relating to the environment and emissions reduction, with a focus on coordinating and developing strategies, plans and technologies to further reduce environmental impact while improving efficiency, return on investment and social perception for Precision’s customers.

“The E-Team is committed to partnering with suppliers, customers, industry groups, and government agencies to innovate and implement green drilling technologies,” the company said in the release. “This collaborative approach, along with Precision’s position as a drilling technology leader, will continue to result in more eco-friendly drilling solutions for our customers.”

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