Economic Sustainability

An important part of the sustainability equation is ensuring the long-term financial viability of our company. We provide value to shareholders, resource owners and local communities and report on our performance. We also invest in the well-being and development of our employees and support the success of the contractors and vendors with which we work.

Pursuing these objectives through the economic downturn in 2008 and 2009 was both a challenge and an opportunity. Like other producers, the execution of our plans slowed down in response to the business environment. We positioned ourselves to live within our means and maintain financial strength. This included reducing our cost structure, addressing our balance sheet and continuing to manage the company through prudent capital discipline. We also made significant moves to optimize our portfolio, while continuing our focus on safety, the environment and stakeholder relationships.

Our long-term vision—to be the leading gas and bitumen producer in Canada—has not changed. We remain positive that we have a strong future in Canada with a portfolio of world-class assets. Achieving long-term sustainability will require innovation and hard work as well as active and ongoing engagement with all of our stakeholders.