Our Commitment to ESG
At Surge Energy, our core values are simply “Who We Are” and are fully integrated into our organization through our commitment to safety, integrity, teamwork, transparency, and excellence. We incorporate “Who We Are” in every facet of our business in order to deliver value to our employees, stakeholders and the communities in which we work and live. “Who We Are” is a top-down philosophy that has allowed Surge Energy to experience exceptional achievements related to many components of the environmental, social and governance (ESG) principles that have become a focal point of the industry.
In 2022, we completed our first multi-stakeholder materiality assessment, which has allowed us to refine and advance our ESG strategy, identify the best measures of success on key issues, and set meaningful forward-looking targets. We have also assessed which sustainability reporting framework best allows us to share our progress and continue providing decision-useful and meaningful disclosure to our stakeholders.
Our ESG strategy and approach to reporting, including the results of our materiality assessment and our forward-looking commitment to sustainability and ESG are available in our sustainability report.
At Surge, we know that to achieve our goals and take care of our people and community, we must invest in protecting and improving our environment. As a leader in produced water management, electrical generation, drilling and completion optimization, and advanced information delivery systems, we leverage our industry expertise to bring innovative solutions that mitigate our environmental impact and address broader environmental challenges.
We are committed to fostering a culture of safety, integrity, teamwork, and excellence at Surge that benefits our people and the communities we serve. We invest in numerous programs and resources to ensure Surge is a great place to work and that we attract and retain top talent. In addition to creating an inclusive environment where diversity of background and thought is embraced, we deliver competitive compensation, benefits, health and wellness opportunities, employee recognition programs, and continuous education and development training.
As committed corporate citizens, we understand the importance of being engaged in the communities in which we live and work. We offer employees paid volunteer time off to support causes important to them. Our team has also worked closely with local organizations selected by our employees to positively impact the Greater Houston and West Texas Areas, including:
Our Corporate Responsibility Team is comprised of experts from across the organization with deep industry expertise and a strong understanding of relevant ESG issues and priorities. This group works closely with our Executive Leadership Team on the Company’s sustainability reporting, emerging sustainability trends, and sharing stakeholder feedback.
The Executive Leadership Team, which is comprised of our Chief Executive Officer and Chief Financial Officer, maintains management of our business strategy, risk management, governance, and compensation practices. In addition, our Board of Directors seeks to ensure that our governance practices and Board composition support effective oversight of our strategy, performance, and key risks and opportunities.
In October 2022, we announced four goals to guide our sustainability efforts. While we continue to prioritize efforts across each area of ESG, environmental performance metrics are core to our business and essential to promoting industry best practices. Our goals covering greenhouse gas intensity, fuel efficiency, methane intensity, and water management are meant to drive progress and accountability in areas deemed most important to our stakeholders and our commitments as a responsible operator.
Maintain Scope 1 GHG intensity under 10 MT CO2e/MBOE
Reduce frac fleet diesel consumption 50% by 2025 from a 2019 baseline (as % of total fuel consumption in diesel gallon equivalents (“DGE”))
Maintain methane intensity below 0.03
Achieve >95% recycled water for completions by 2023