HOUSTON, July 23, 2024 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) today published its 2024 Sustainability Report. Highlights from the report include the achievement of key Environmental, Social and Governance (ESG) goals in 2023 and progression of the company’s sustainability initiatives and emissions reduction efforts. The full report is available on APA’s website.
“Throughout the past year, APA has demonstrated consistent progress and excellent performance across our sustainability focus areas while responsibly producing oil and natural gas,” said John J. Christmann IV, APA CEO. “Energy remains the bedrock of human progress, and our talented, global workforce is unwavering in its commitment to making APA a safety-first, responsible oil and natural gas company. This solid foundation has strategically positioned our company to execute on our sustainability strategy, delivering impactful results in the near term.”
Progress across our key pillars in 2023:
AIR – APA achieved its methane reduction goal by converting more than 2,800 pneumatic devices to instrument air or by valve retrofit across U.S. onshore operations, significantly exceeding the target of 2,000 devices by the end of the year. Additionally, the company published greenhouse gas (GHG) emissions intensity targets, which are directly tied to the long-term compensation for all employees. The company also joined the United Nations Oil and Gas Methane Partnership 2.0, a group focused on methane emissions reduction and improving the accuracy and transparency of emissions reporting.
WATER – The company achieved a compensation-linked goal of recycling at least 50% of water used for U.S. onshore completions. APA exceeded this goal recycling 61% of water used for completions across U.S. onshore operations, greatly reducing the consumption of fresh water and nearly doubling the percentage of recycled water used from 2022 to 2023.
COMMUNITIES+PEOPLE – APA’s commitment to people begins with the health and safety of its employees and contractors — the foundation that drives the organization’s success. The company finished 2023 with the lowest Total Recordable Incident Rate (TRIR) and Severe Incident Rate (SIR) ever recorded. The company also introduced Well Deserved, a new employee recognition program allowing team members to recognize their colleagues for effort, impact or initiatives surpassing expectations. As part of our focus on giving where we live and work, the company expanded its award-winning Apache Corporation Tree Grant Program internationally, donating thousands of trees to nonprofit organizations in Scotland. Since 2005, the company has donated more than 5 million trees to over 1,000 nonprofits and government agencies. In Egypt, APA initiated a plan to provide medical care to more than 28,000 patients living in the Egyptian governorate of Matrouh through our partnership with the Ibrahim Badran Foundation.
About APA
APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.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, 2023, 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.
Contacts
Investor:(281) 302-2286Gary ClarkMedia:(713) 296-7276Alexandra FranceschiWebsite:www.apacorp.com
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