HOUSTON, July 26, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today published its 2022 Sustainability Report, highlighting the achievement of numerous Environment, Social and Governance (ESG) goals throughout 2021 while tracking progress made on ESG commitments for 2022. The report is available here, along with a summary fact sheet detailing report highlights.
“Oil and natural gas will be essential to global energy supply for decades to come, and we have concentrated our efforts on sustainably providing these resources in an innovative, responsible manner,” said John J. Christmann IV, APA CEO and president. “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- and short-term incentive compensation for all employees.”
The quality and breadth of data provided in the report stems from the company’s work to continuously enhance disclosures and measurements of ESG progress. This year, APA updated the Task Force on Climate-related Financial Disclosures (TCFD) analysis using the International Energy Agency’s World Energy Outlook, provided detailed disclosure of 2021 air and water data at the country level, increased board diversity in ethnicity and global leadership experience, and reduced recordable injury counts by 76% compared to our 10-year average.
Report highlights include:
- AIR – In October 2021, we achieved our goal to end routine flaring across U.S. onshore operations three months ahead of schedule. Additionally, APA piloted a real-time greenhouse gas emissions monitoring program at our Permian Basin facilities last year, bringing more innovative measuring processes to the field.
- WATER – The conservation of fresh water and reducing water usage across operations is essential to APA’s work. In 2021, 97% of the water used in the company’s U.S. hydraulic fracturing operations was nonfresh 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 self-identified as ethnic minorities, up from 25% in 2017.
- COMMUNITIES – Building sustainable communities is one of three pillars that comprise APA’s approach to giving. 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 protecting the environment begins with the company’s leadership. Sixty percent of current board members have experience with environmental and regulatory issues.
APA Corporation owns 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 concerning Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.
This news 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 can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, including statements about our capital plans, drilling plans, production expectations, asset sales, and monetizations. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in APA’s 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 that affect our business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. APA and its subsidiaries undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
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