HOUSTON, July 26. 2022 (GLOBE NEWSWIRE) — APA Corporation (APA) today released its 2022 Sustainability Report, highlighting the achievement of numerous environmental, social and governance (ESG) goals throughout 2021 while tracking progress. on ESG commitments for 2022. The report is available hereas well as a summary fact sheet detailing the highlights of the report.
“Oil and natural gas will be critical to the world’s energy supply for decades to come, and we have focused our efforts on sustainably supplying these resources in innovative and responsible ways,” said John J. Christmann IV, CEO and President of APA. “Protecting air quality, conserving fresh water, supporting a thriving workforce and building sustainable communities are key elements of our ESG goals, all of which are tied to long-term and short-term incentive compensation for all employees.
The quality and breadth of data provided in the report derives from the company’s work to continuously improve ESG progress information and measurement. This year, the APA updated the Task Force on Climate-Related Financial Disclosures (TCFD) analysis using the International Energy Agency’s Global Energy Outlook, provided detailed disclosure 2021 air and water data at the country level, increased board ethnic diversity and global leadership experience, and reduced recordable injuries by 76% compared to our average over 10 years.
Highlights of the report include:
- AIR – In October 2021, we achieved our goal of ending routine flaring in U.S. land operations three months ahead of schedule. Additionally, APA last year piloted a real-time greenhouse gas emissions monitoring program at our Permian Basin facilities, bringing more innovative measurement processes to the field.
- WATER – The conservation of fresh water and the reduction of water consumption in all operations are essential to the work of APA. In 2021, 97% of the water used in the company’s hydraulic fracturing operations in the United States was non-fresh or recycled produced water.
- PEOPLE – At APA, we aim to foster a more inclusive workforce that reflects the diversity of the communities in which we operate. Last year, 34% of U.S. employees identified as ethnic minorities, up from 25% in 2017.
- COMMUNITIES – Building sustainable communities is one of the three pillars that make up APA’s giving approach. Since 2004, approximately 15,000 girls in Egypt have learned to read and write in schools founded and supported by APA.
- GOVERNANCE – APA’s commitment to environmental protection begins with corporate leadership. Sixty percent of current board members have experience in environmental and regulatory issues.
About the APA
APA Corporation has consolidated subsidiaries that explore for and produce oil and gas in the United States, Egypt and the United Kingdom and that explore for oil and gas offshore Suriname. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Specific information regarding Suriname, ESG performance and other investor-related topics is published on investor.apacorp.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words such as “anticipates”, “has intention”, “plans”, “seeks”, “believes”, “continues”, “could”, “estimates”, “expects”, “advises”, “may”, “might”, “perspective “, “maybe”, “potential”, “projects”, “prospects”, “should”, “will”, “would” and similar references to future periods, but the absence of these words does not mean not that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations and operating objectives, including statements about our capital plans, drilling plans, production expectations, sales of assets and our monetizations. Although forward-looking statements are based on assumptions and analyzes made by us that we believe are reasonable under the circumstances, whether actual results and developments will meet our expectations and forecasts depends on a number of risks and uncertainties that could cause our actual results, performance and financial condition to differ materially from our expectations. See “Risk Factors” in APA Form 10-K for the year ended December 31, 2021 and in our Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission for a discussion of risk factors. risk that affect our business. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may arise from time to time and it is impossible for us to predict all of them. APA and its affiliates undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
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