Sustainability
Our Inaugural Sustainability Report
Upholding a high standard of corporate responsibility
Our approach to doing business is centered around sustainability, the environment, accountability and a commitment to responsibility. These four values underpin the actions and decisions of all Lucero employees and are supported by our internal culture, policies, and procedures.
Our company was founded on principles which have remained firmly in place as it has grown, ultimately enabling Lucero to establish an entrepreneurial vision supported by a culture of trust and responsibility across the organization.
Environment
Committed to producing resources in a manner that minimizes environmental impact.
This commitment is exemplified by the use of closed loop drilling systems, a dedication to flaring reduction, and utilizing pipeline connections in lieu of trucking, ultimately reducing overall emissions. Lucero adheres to all regulatory environmental policies, stays up to date on changes in the governing landscape, and employs a comprehensive asset integrity program to alleviate the risk of harmful environmental impact. Our policies are based on best practices and derived from the recommendations and guidelines of the North Dakota Industrial Commission, the Bureau of Indian Affairs (BIA), the Bureau of Land Management, and the Department of the Interior’s Office of Natural Resources Revenue.
Social
Promoting a culture of accountability, inclusivity, safety and stakeholder involvement
Lucero is proud to employ a diverse and well rounded team in each of our Calgary and Denver offices where we endeavour to have a positive impact on each of the local communities where we operate. We are devoted to protecting the health and safety of our people, which is promoted through adherence to detailed policies, a culture of safety, ongoing training and meeting or exceeding compliance with all applicable regulations.
Our health and safety program is designed to:
- Deliver a secure, safe working atmosphere
- Provide continuous improvement and evolution of health and safety policies
- Improve operational processes by standardizing procedures and reducing downtime
- Guarantee a rapid and thorough response should an incident occur
Governance
We are defined by the way we conduct day-to-day business
Our strong governance foundation helps to ensure a consistent and reliable standard of professional practice and supports corporate oversight. The following documents outline the ways in which we uphold our high standard:
ESTMA
Lucero is committed to transparency and responsible reporting
- About ESTMA
On June 1, 2015, the Canadian federal Extractive Sector Transparency Measures Act, (“ESTMA“) came into effect for fiscal periods beginning after this date. This federal legislation imposes mandatory reporting requirements on certain entities engaged in the “commercial development of oil, gas or minerals”, which includes exploration, extraction and holding permits to do so. All companies subject to ESTMA are required to report payments over CDN $100,000 made to any level of a Canadian or foreign government, including royalty payments, taxes (other than consumption taxes and personal income taxes), fees, production entitlements, bonuses, dividends (other than ordinary dividends paid to shareholders), infrastructure improvement payments and other prescribed categories of payments. These categories are separate; therefore, even if the aggregate of payments across the categories are greater than $100,000, one or more individual categories must reach the threshold for the report to be required.