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Engage Energy and Industrial Consulting was retained to create the Inaugural 2020 Sustainability Report for Deep Well Services.
Deep Well Services (DWS) had a great story to tell. It was our job to make sure that story was told well, and that DWS established their ESG disclosures based on industry best practice. Their leadership team understands that the oil and gas services industry, and in particular “fracking”, is viewed by many as part of the problem when it comes to protecting the environment. They also understand how important the industry is to our economy, our way of life, and the issue of our country’s energy independence.
DWS leadership, like many business leaders, are being continually challenged on the question of how their business serves to contribute to, and address the myriad of environmental, social, and governance (ESG) issues that face us today. Leaders face increasing pressure from political activists, shareholders, social media, consumers, and their employees, to choose a side and make investment decisions based on the issues they hold dear. In many instances, leaders are being compelled to provide public statements that clearly articulate their beliefs on subjects such as climate change, diversity and inclusion, and investment decisions.
For this reason, DWS set out to establish their sustainability program as a critical component of their business strategy. In addition, we believe self-regulation will eventually give way to mandated compliance and disclosure requirements. We wanted to help prepare the organization for this reality.
We began by assessing DWS’s corporate philosophy as it relates to the three pillars of ESG – Environmental, Social, and Governance. We determined what specific ESG strategies would be required to position DWS for future success, build trust, credibility, and confidence with investors, customers, employees, regulators, and the communities they serve.
We began by assessing DWS’s corporate philosophy as it relates to the three pillars of ESG – Environmental, Social, and Governance. We determined what specific ESG strategies would be required to position DWS for future success, build trust, credibility, and confidence with investors, customers, employees, regulators, and the communities they serve.
The Annual Sustainability Report – The report showcases the goals and strategies that DWS have implemented to drive positive ESG performance. The report is a transparent accounting of the broader corporate social responsibility program and an opportunity to share innovations that are having positive impact on the DWS business. The success of DWS sustainability program is a direct result of the leadership commitment made by the CEO and leadership team. By making ESG a priority, DWS is showing the marketplace that they are committed to cultivating a positive brand image and being regarded as a leader in their industry.
For most companies, there should be no time to waste. Developing a sustainability program will infuse a sense of purpose at every level of your company. Your company’s ESG strategy will dictate your reputation, the way your consumers engage, the talent you attract, and your ability to access capital.
As the Net Zero transition accelerates, companies with a well-articulated, long-term ESG strategy and clear plans to address their contribution to Net Zero, will differentiate themselves with their investors, customers, regulators, employees, and communities by inspiring with the impact their investments in your company are having.
Established in 2008, Deep Well Services (DWS) is an oilfield services company specializing in the most complex and difficult types of well work utilizing hydraulic completion units and workover rigs. They are a leader in efficiency and safety performance and provide valued-added services to the world’s most respected oil and gas companies. DWS has active projects in Texas, Pennsylvania, Ohio, New Mexico, New York, North Dakota, West Virginia, and has recently expanded outside the U.S. into Argentina.
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