OKLAHOMA CITY, July 1, 2024 /PRNewswire/ -- Ascent Resources, LLC (together with its subsidiaries, "Ascent" or the "Company") announced today that it has published its 2023 Sustainability Report (formerly Environmental, Social and Governance Report) chronicling the Company's environmental, health and safety; social; and governance efforts and accomplishments in 2023.
Jeff Fisher, Ascent's Chairman and Chief Executive Officer, commented "We are pleased to share with our stakeholders our sixth annual sustainability report. As a staunch ally of human progress now in our second decade of existence, we remain committed to responsibly delivering affordable, reliable, cleaner-burning energy while working diligently to maintain our social license to operate. As always, 2023's strong performance is a testament to our team of dedicated employees."
2023 Sustainability Report Highlights
Environmental
3rd consecutive year of low Scope 1 GHG emissions intensity (below 3.00 on mt CO2e / mboe basis); approximately 20% below our 2020 baseline year
Ultra-low Scope 1 methane emissions intensity of 0.02%
2023 Scope 1 methane intensity (0.02%) represents nearly 50% reduction from 2022 total combined assets (e.g., mid-2022 acquisition)
Reused 77% of all produced flowback water in our operations
Achieved Grade A recertification from MiQ on 100% of our gas production
We expect to finalize our third-consecutive MiQ Grade A recertification on 100% of our 2024-2025 gas production as Grade A in mid-2024
Social
Directly responsible for greater than $580 million in local economic impact (excludes indirect economic benefit from >$1 billion from capital and other corporate expenditures)
Paid over $510 million to landowners
Paid over $60 million in taxes, helping to fund public works in local economies
Spent ~$10 million to repair, replace and improve nearly 28 miles of Ohio roads
Greater than $760,000 in philanthropic giving
Named a Great Place to Work for a 8th consecutive year in 2023 (extended to a 9th consecutive year in April 2024)
Governance
Governed by a 12-member Board which includes two independent directors
Active Audit, ESR and Compensation Committees ensure full and proper governance of the company
Sustainability-related performance metrics are included in employee and management compensation
Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in southern Ohio. With a continued focus on good corporate citizenship, Ascent is committed to delivering low-cost clean-burning energy to our country and the world, while reducing environmental impacts. For more information, visit www.ascentresources.com.
Contact: Chris Benton Vice President ? Finance and Investor Relations 405-252-7850 [email protected]
Steven Feisal Director ? Sustainability & Federal Regulatory 405-252-7780 [email protected]
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