Dear Stakeholders,

I am pleased to share with you our voluntary 2023 Sustainability Report, which provides an update on our 2022 report and key facets of our business responsibility program, performance, and key disclosures. In this report, we highlight aspects of our ongoing commitment to mitigate the environmental impacts of our operations, invest in the social opportunities of our diverse workforce, and adhere to responsible and ethical governance best practices.

As a leading, independent well service company on the path to more responsible well servicing, we view our role in the ongoing energy expansion as an exciting opportunity to continuously seek out innovative ways in which to serve our customers, advance the careers of our people, and improve the communities in which we live and operate. Our Leadership, Board of Directors, and ESG Committee are actively involved in defining, measuring, and monitoring our sustainability initiatives, while advocating for our industry through workforce advancement, education, investment, and industry collaboration.

In 2023, we witnessed a stabilization of well-service demand within the domestic energy industry following two consecutive years of robust growth in 2021 and 2022, coinciding with the rapid economic recovery from the COVID pandemic. The 2023 market softness coupled with higher cost inflation presented a more demanding operating landscape for Brigade. Nonetheless, we continued to invest significantly in our equipment, our people, our systems, and our processes to ensure optimal efficiency and safety performance in our service delivery.

Throughout 2023, our hard work on material sustainability issues continued to deliver positive results, including but not all-inclusive: a 5% reduction in our safety incident rate, an industry-leading 28% increase in employee safety education and competency training, an 80% minority/ ethnically-diverse workforce that participated in a 13% average wage increase, a 37% reduction in employee turnover, a 51% increase in Job Safety Analysis (JSAs) and Rig Audits conducted, a 4% emissions intensity reduction across Scope 1 & 2 sources (to follow a 35% reduction in 2022), the plugging of approximately 1,250 wells, as well as the continued investment and upgrading of our active workover asset fleet, offset by responsible and voluntary aged-asset decommissioning (10x rigs decommissioned in 2023). In 2023, Brigade also made meaningful investments into two unique, subsidiary affiliates helping the industry deliver the cleanest oilfield in the world: Carbon Shield, focused on innovative retirements of oil and gas assets, and Energy Overwatch, focused on emissions compliance solutions for the broader energy ecosystem.

I am proud of our team’s continued resilience and commitment to delivering customer value, driving innovation, fostering sustainable outcomes, and upholding our position as a leading industry provider of well-service solutions. We look forward to a productive 2024 by continuing to serve our customers, employees, and our communities with industry-leading performance.

The Mission is Sacred

The Mission is Sacred – At Brigade Energy Services, our mission is to exceed customer expectations on every job by delivering experienced and innovative well-service solutions, the highest quality equipment, and personnel steeped in a disciplined team culture. We are committed to safety, integrity, process improvement, measurable performance, and operational excellence.

Justin Bliffen,
Chief Executive Officer