CorEnergy Files 2022 Form 10-K, Posts ESG Report

Rhea-AI Impact

(No impact)

Rhea-AI Sentiment

(Neutral)

Tags

03/29/2023 - 04:45 PM

KANSAS CITY, Mo.--(BUSINESS WIRE)-- CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) ("CorEnergy" or the "Company") announced today that it has filed its Form 10-K for the year ended December 31, 2022 with the United States Securities and Exchange Commission and posted a 2022 ESG report to its corporate website.

Among ESG results detailed, the Company reported a 56% reduction in Scope 1 and 2 emissions across all CorEnergy assets from its 2021 baseline. The Company also commenced a new methane emission measurement and monitoring program at MoGas, targeting a minimum reduction of 65% by 2025. As part of CorEnergy’s continued ESG development initiatives, it has adopted the Energy Infrastructure Counsel (EIC) ESG reporting framework and initiated Board-level oversight of its ESG and Cybersecurity programs.

The complete ESG report is available on the Company Website by following the links to “About Us,” then “ESG,” or by visiting https://corenergy.reit/esg/.

Additionally, the Company has filed its 2022 Form 10-K, including the previously announced restated financial results for the year ended December 31, 2021, and related interim financial statements.

CorEnergy’s independent registered accounting firm Ernst & Young, LLP provided an unqualified opinion on the restated financial statements and therefore investors may rely upon them.

About CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real estate investment trust that owns and operates regulated natural gas transmission and distribution lines and crude oil transmission pipelines and associated rights-of-way. For more information, please visit corenergy.reit.

Forward-Looking Statements

With the exception of historical information, certain statements contained in this press release may include "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, including those related to the potential sale of our MoGas and Omega systems and use of proceeds therefrom, our ability to execute on our business strategy of restoring our cost of services, the expected results of tariff increase requests and our ability to pay future dividends. Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including that the final bids for the sale of MoGas and Omega might be less than expected or the sales might not be completed, we might not receive our requested tariff increases, we might have further cost increases and volume reductions beyond those projected in our tariff requests, we may not be able to resume paying future dividends at past levels or at all, and those additional factors discussed in CorEnergy’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any dividends paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy’s Board of Directors and compliance with leverage covenants and other applicable requirements.

Source: CorEnergy Infrastructure Trust, Inc.