HOUSTON, Oct. 24, 2017 (GLOBE NEWSWIRE) -- 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
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.
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.
Media: (713) 296-7189 Castlen Kennedy
Source: Apache Corporation
News Provided by Acquire Media