“Deliver results."

It is one of our core values, and refers to our commitment to increasing shareholder value through continuous improvement. An example of delivering results was our acquisition of world-class, oil-producing assets in the Eagle Ford Shale in 2014.

We acquired those assets in March 2014. By December, we had delivered results by doubling our oil production in the play. In addition to that, we added technology that made our Eagle Ford assets safer, more environmentally friendly and more efficient.

Through this technology, we have reduced emissions from our production sites, and have connected those sites to a digital communication system that allows continuous monitoring from a central location.

The result: shareholder value.

Vapor recovery units allow us to capture more natural gas associated with our oil production. This technology is important because it helps us reduce emissions by capturing more gas, retain it and transport it to market where it can be sold to energy consumers.

By capturing emissions before they enter the atmosphere, we are making our sites cleaner, safer and more efficient. Safety, energy savings and environmental stewardship are good for our bottom line, and they help us comply with regulatory requirements.

Safety and efficiency can be achieved through other technologies as well.

Another innovation we are using in the Eagle Ford is called SCADA, which stands for Supervisory Control and Data Acquisition.

We use SCADA to help us manage our producing assets across North America. The system continually gathers data from our wells and transmits it to control centers where it is monitored by our employees. Through the SCADA system, we can quickly recognize changes and respond in a timely way.

In many cases, we drive daily routes to our well locations to visually monitor well operations and check fluid levels in storage tanks. Information gathered through these manual visits is limited to one update per day compared to the SCADA system, which can send an update every 15 minutes.

SCADA provides an additional and more continuous source of information about our production operations and if any issues develop on our well site, we know about them almost immediately through SCADA.

The system also promotes safety by providing storage tank level information automatically, which reduces the need for our employees to climb ladders and lift tank hatches.

SCADA does not completely eliminate the need for our employees to make regular visits to production sites, but it reduces the frequency of those visits which reduces fuel use and carbon emissions while increasing the amount of daily information we can gather.

Published: April 2015