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APA Corporation Publishes 2023 Sustainability Report
Globe Newswire 11-Jul-2023 11:25 AM
HOUSTON, July 11, 2023 (GLOBE NEWSWIRE) -- APA Corporation (NASDAQ:APA) today published its 2023 Sustainability Report. Highlights from the report include the achievement of key Environmental, Social and Governance (ESG) goals in 2022 and progression of the company's ESG initiatives and long-term emissions reduction efforts. The full report is available on APA's website.
"We believe that human progress begins with the fundamental and profound positive impact that energy has on our everyday life," said John J. Christmann IV, APA CEO and president. "We continue to build on our track record of sustainably exploring for and producing oil and natural gas by reducing our emissions, conserving fresh water, strengthening community well-being, and creating a workplace where employees can thrive."
Report highlights include:
AIR – In 2022, APA announced an inaugural long-term, compensation-linked goal to implement projects capable of eliminating at least 1 million tonnes of annualized carbon dioxide equivalent (CO2e) emissions by year-end 2024. In support of this commitment, we achieved our 2022 ESG goal to reduce upstream routine flaring across Egypt operations by 40%.
WATER – Over the last five years, only 5% of water consumed throughout company operations was fresh water. For this accomplishment and other conservation efforts, APA was awarded the Industrial Reuse Champions Award in 2022 from the WateReuse Symposium, an independent organization not affiliated with the oil and gas industry.
COMMUNITIES – APA's community partnership programs are focused on three key pillars, one of which is environmental stewardship. Last year, the company reached a significant milestone with the donation of its 5 millionth tree through the Apache Corporation Tree Grant Program.
PEOPLE – APA is deeply committed to the safety of company operations and the well-being of employees and contractors. In 2022, APA achieved the company's lowest total recordable incident rate in nearly two decades and achieved all corporate leading and lagging safety targets.
GOVERNANCE – The company believes that robust and contemporary governance practices are vital to the success of our business and begin with the company's leadership. Annual training on the company's Code of Business Conduct and Ethics was completed by 100% of Board members and employees in 2022.
About APA
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 and the Dominican Republic. 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.
Forward-looking statements
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," "goals," "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, 2022, 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.
