Chord Energy Releases 2023 Sustainability Report

Rhea-AI Summary

Chord Energy (NASDAQ: CHRD) has released its 2023 Sustainability Report, highlighting the company's commitment to sustainable operations and transparent reporting. Key achievements include:

• A 9% decrease in operated Scope 1 GHG emissions intensity compared to 2022
• A 44% decrease in operated Scope 1 methane emissions intensity compared to 2022
• Joining the World Bank's Zero Routine Flaring initiative
• A 36% reduction in Total Recordable Incident Rate (TRIR) compared to 2022
• Donations of approximately $1 million to charitable organizations

The report also highlights corporate governance achievements, including 90% of directors having prior E&P experience and 100% of committee chairs being women in 2023. The report's contents were guided by frameworks such as TCFD, SASB, GRI, and AXPC ESG Metrics Framework.

HOUSTON, Sept. 30, 2024 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord" or the "Company") today announced the release of its 2023 Sustainability Report, which highlights Chord's commitment to sustainable operations and transparent reporting of environmental stewardship, social responsibility and corporate governance. The report is available on the Company's website at www.chordenergy.com/sustainability.

"We are pleased to share Chord's 2023 Sustainability Report with our stakeholders," said Danny Brown, Chord Energy's President and Chief Executive Officer. "We remain committed to meeting the world's growing energy needs by delivering affordable and reliable energy in a sustainable and responsible manner. Our goal with this report is to provide transparent and authentic information about Chord's continuing commitment to sustainable business operations. We welcome feedback from our stakeholders on our progress and look forward to building upon our sustainability efforts to shape an even stronger future for Chord and the communities we serve."

Highlights from Chord's 2023 Sustainability Report include:

Environmental Stewardship

• 9% decrease in operated Scope 1 GHG emissions intensity in 2023 as compared to 2022 and 57% decrease as compared to 2019
• 44% decrease in operated Scope 1 methane emissions intensity in 2023 as compared to 2022 and 70% decrease as compared to 2019
• Joined World Bank's Zero Routine Flaring initiative
• Achieved top quartile spill performance on our core assets in North Dakota and Montana when benchmarked against industry peers

Social Responsibility

• 36% reduction in the Total Recordable Incident Rate (TRIR) in 2023 as compared to 2022
• Donated ~$1MM in 2023 to charitable organizations serving education, the environment, mental health, food pantries and first responders

Corporate Governance

• 90% of directors in 2023 have prior E&P experience
• 100% of committee chairs in 2023 were women
• Over 250 face-to-face interactions with shareholders in 2023

The contents of the 2023 Sustainability Report were informed by our stakeholders and guided by various frameworks, including the Task Force on Climate-related Financial Disclosures (TCFD), the Sustainability Accounting Standards Board's (SASB) Extractives & Minerals Processing Sector: Oil & Gas – Exploration & Production Standard, the Global Reporting Initiative (GRI) Standard for Oil & Gas, and the American Exploration and Production Council (AXPC) ESG Metrics Framework. 

About Chord Energy

Chord Energy Corporation is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company's website at www.chordenergy.com.

Forward-Looking Statements

This press release may include certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management's control. These risks and assumptions are described in the Company's annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission ("SEC"). Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's view only as of the date made.

Any forward-looking statement speaks only as of the date on which such statement is made and Chord undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

For more information, contact IR@chordenergy.com

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SOURCE Chord Energy

FAQ

What were Chord Energy's (CHRD) key environmental achievements in 2023?

Chord Energy (CHRD) reported a 9% decrease in operated Scope 1 GHG emissions intensity and a 44% decrease in operated Scope 1 methane emissions intensity in 2023 compared to 2022. They also joined the World Bank's Zero Routine Flaring initiative and achieved top quartile spill performance on their core assets in North Dakota and Montana.

How much did Chord Energy (CHRD) donate to charitable organizations in 2023?

Chord Energy (CHRD) donated approximately $1 million in 2023 to charitable organizations serving education, the environment, mental health, food pantries, and first responders.

What was Chord Energy's (CHRD) improvement in safety performance for 2023?

Chord Energy (CHRD) reported a 36% reduction in the Total Recordable Incident Rate (TRIR) in 2023 compared to 2022, demonstrating a significant improvement in safety performance.

What corporate governance achievements did Chord Energy (CHRD) report for 2023?

Chord Energy (CHRD) reported that 90% of directors had prior E&P experience, 100% of committee chairs were women, and the company had over 250 face-to-face interactions with shareholders in 2023.

Which sustainability frameworks guided Chord Energy's (CHRD) 2023 Sustainability Report?

Chord Energy's (CHRD) 2023 Sustainability Report was guided by frameworks including the Task Force on Climate-related Financial Disclosures (TCFD), SASB's Oil & Gas Exploration & Production Standard, the Global Reporting Initiative (GRI) Standard for Oil & Gas, and the American Exploration and Production Council (AXPC) ESG Metrics Framework.