Cona is committed to managing and operating in a safe, efficient and environmentally responsible manner in association with the Corporation’s industry partners and to continually improving its environmental, health, safety and social performance. To fulfill this commitment, Cona’s operating practices and procedures are consistent with the requirements established for the oil and gas industry. Cona complies with the regulations of the jurisdictions in which the Corporation operates. Key environmental considerations include air quality, spill management, waste management plans, lease and right-of-way management, natural and historic resource protection, and liability management (including site assessment and remediation). These practices and procedures apply to all employees and contractors and the Corporation monitors all activities and makes reasonable efforts to ensure that companies who provide services to the Corporation operate in a manner consistent with the Corporation’s environmental practices.
Management believes that the Corporation meets all existing environmental standards and regulations and includes sufficient amounts in the Corporation’s capital expenditure budget to continue to meet current environmental protection requirements. These requirements apply to all operators in the oil and gas industry; therefore it is not anticipated that Cona’s competitive position within the industry will be adversely affected by changes in applicable legislation. Cona ensures that detailed due diligence reviews to assess environmental liabilities and regulatory compliance are completed prior to proceeding with new acquisitions and developments.
Cona’s environmental management plan and operating practices focus on minimizing the environmental impact of its operations while meeting regulatory requirements. The Corporation’s environmental program includes a site inspection program; a suspended well inspection program to support future development or eventual abandonment; appropriate reclamation and decommissioning standards for wells and facilities ready for abandonment; an effective surface reclamation program; a groundwater monitoring program; and a spill prevention, response and clean-up program.