Apache Corporation Releases 2017 Sustainability Report
October 24 2017 - 4:05PM
Apache Corporation (NYSE:APA) (Nasdaq:APA) has released its 2017
Sustainability Report. The online report features extensive
disclosure of Apache's performance in governance, environmental
stewardship, workforce, health and safety in the workplace, and
community outreach. The report is available at
www.apachecorp.com/Sustainability.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/847b9972-5f8d-4a75-9166-bb583cc865ff
http://www.globenewswire.com/NewsRoom/AttachmentNg/c876750a-3aee-4e5b-bdbf-bd5e2ac55a61
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John J. Christmann IV, Apache's chief executive officer and
president said, "At Apache, we believe that our success depends on
delivering environmental, social and financial returns – because
that is how the company will deliver long-term growth and lasting
benefits for shareholders and other stakeholders.”
Among the highlights, the 2017 report:
- Provides increased transparency on Apache’s most material
sustainability issues –Apache undertook a materiality analysis to
identify the issues that are most important to its stakeholders.
Based on this analysis, the company is already reporting on all of
the issues stakeholders rank at the highest level of importance.
However, in this report, Apache increased the level of disclosure
on many of these topics, including: water use and sourcing; water
quality and wastewater management; greenhouse gas (GHG) emissions
and energy use; sustainability; health, safety and environment
(HSE); social issue management; regulation and compliance; and risk
management.
- Addresses stakeholders’ most frequently asked questions – For
this year’s report, Apache developed a special section that answers
stakeholders’ most frequently asked questions and provides concise
yet thorough answers about how Apache is addressing these issues
and pointing readers to more detailed, related content throughout
the report.
- Provides an in-depth account of the efforts made at Alpine High
– The report provides an in-depth account of how Apache is
protecting local resources, implementing best management practices,
and coordinating with key community leaders to ensure the safe and
responsible development of its new multidecade resource play,
Alpine High.
- Expands disclosure on how Apache plans for
climate-change-related risks and reduces operational methane
emissions – In response to increased investor interest in how oil
and gas companies are addressing climate-change-related risks and
reducing methane emissions and leaks from operations, Apache added
content on these topics for this year’s report. For example, the
company increased its discussion of methane leak identification and
management and its approach to reducing methane flaring and
venting. Apache also added a discussion of how it integrates
climate-change-related risks into its risk management and scenario
planning processes.
- Represents Apache’s first report in full accordance with the
Global Reporting Initiative (GRI), the world’s leading standard for
sustainability reporting – For the first time, Apache fulfilled all
of GRI’s requirements for voluntary sustainability reporting at the
core level.
The report also highlights Apache’s performance in key
sustainability areas including:
- Improving health and safety – Since 2012, Apache has
significantly reduced safety incidents for employees and
contractors: improving our employee and contractors Total
Recordable Incident Rate (TRIR) by 54 percent and Days Away,
Restricted or Transferred (DART) rate by 55 percent.
- Reducing methane emissions – Apache is on track to meet its
goal to reduce methane emissions intensity to 0.36 percent by 2025.
In 2016, the company’s global methane emissions intensity was 0.43
percent, a reduction of 12 percent compared to 2015.
- Using alternatives to fresh water – In 2016, just 3 percent of
Apache’s water withdrawals were potable fresh water. Apache uses
recycled produced water, municipal waste water and nonpotable,
brackish groundwater to reduce its use of fresh water.
- Listening to community members - As part of an effort to be
more responsive to community needs, Apache established a formal
grievance hotline that is operated 24 hours a day by staff members
in Houston; Apache is one of only a few independent oil and gas
companies with a 24-hour call center operated by employees rather
than a third party.
- Benefiting our communities – Apache aims to benefit our
communities by hiring and spending locally. In 2016, 97 percent of
Apache employees were local nationals and nearly 30 percent of the
company’s spending was with local vendors. Apache also contributed
$39 million in local property taxes assessed upon reserves in
place.
The 2017 report was prepared using the GRI Sustainability
Reporting Standards and meets the Standard’s requirements for a
core-level report. GRI is a nonprofit organization that promotes
economic, environmental and social sustainability. Its
comprehensive sustainability reporting model is widely used around
the world. Also consulted was the Oil and Gas Industry Guidance on
Voluntary Sustainability Reporting developed by IPIECA, the
American Petroleum Institute (API) and the International
Association of Oil & Gas Producers (IOGP).
Another reference was Disclosing the Facts 2017: Methane Risk
and Transparency in Hydraulic Fracturing Operations published by As
You Sow, Boston Common Asset Management and the Investor
Environmental Health Network (IEHN). Disclosing the Facts is an
annual investor scorecard ranking the 28 largest oil and gas
companies engaged in hydraulic fracturing.
About Apache
Apache Corporation is an oil and gas exploration and production
company with operations in the United States, Egypt and the United
Kingdom. Apache posts announcements, operational updates, investor
information and press releases on its website, www.apachecorp.com,
and on its Media and Investor Center mobile application, which is
available for free download from the Apple App Store and the
Google’s Play store.
Contacts
Media: (713) 296-7189 Castlen Kennedy
Website: www.apachecorp.com
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