OKLAHOMA
CITY, June 9, 2023 /PRNewswire/ -- Chesapeake
Energy Corporation (NASDAQ:CHK) today published its 2022
Sustainability Report, marking the company's 11th year reporting on
its environmental, social and governance (ESG) performance. This
report continues the company's commitment to transparency, enhanced
disclosures and measurable progress.
"The world is short on energy, and we must ensure today's market
has an adequate energy supply to meet consumer needs, while
reducing our carbon and environmental impact. Chesapeake's
sustainability strategy, and our performance to date, prove that
this is possible," said Nick
Dell'Osso, Chesapeake's President and Chief Executive
Officer. "We approached this year's reporting with the same values
we bring to work every day: respect for our stakeholders, integrity
in our performance, a stewardship mindset and a commitment to
continuous improvement."
Specific 2022 sustainability highlights include:
- Lowered its 2025 climate targets on pathway to net zero:
After meeting its initial 2025 interim targets in 2021, Chesapeake
further lowered its goal for methane intensity and greenhouse gas
(GHG) intensity to 0.02% and 3.0 mt CO2e/gross mboe
produced. These targets are in support of the company achieving net
zero greenhouse gas (GHG) (Scope 1 and 2) by 2035.
- Achieved 100% RSG across two major basins: Chesapeake is
the first company to certify its natural gas production across two
major basins as Responsibly Sourced Gas (RSG). The company delivers
approximately 6 bcf/d of gross operated produced volumes of RSG.
This sets us up to Be LNG Ready and primed to serve international
markets.
- Hired its first Chief Sustainability Officer: Reporting
directly to the CEO, our Chief Sustainability Officer leads the
company's sustainability strategy and reporting, among other
responsibilities. An environmental engineer by training, she brings
to the role extensive experience from within the energy
industry.
- Improved safety performance across entire workforce:
Through focused training and increased safety programs, Chesapeake
lowered its employee, contractor and combined (employee and
contractor) Total Recordable Incident Rate (TRIR) and Lost-Time
Incident Rate (LTIR). Contractor safety rates improved by
approximately 50% year-over-year.
- Enhanced stakeholder relations: Creating multiple
communications channels for stakeholders was a priority for
Chesapeake in 2022. The company created dedicated stakeholder
engagement teams by asset, adopted new technology to better track
community engagement and hosted in-person meetings throughout our
assets.
- Enhanced schedule flexibility to respond to employee
needs: Chesapeake introduced remote work opportunities,
schedule flexibility and a personal well-being day to the company's
paid time off schedule. These changes are reflective of employee
feedback and further support Chesapeake's commitment to diversity,
equity and inclusion (DEI).
This year's report is available by clicking here. A summary of
the report is also available on Chesapeake's website at chk.com
under the "Sustainability" section.
Headquartered in Oklahoma
City, Chesapeake Energy Corporation (NASDAQ:CHK) is powered
by dedicated and innovative employees who are focused on
discovering and responsibly developing leading positions in top
U.S. oil and gas plays. With a goal to achieve net zero GHG
emissions (Scope 1 and 2) by 2035, Chesapeake is committed to
safely answering the call for affordable, reliable, lower carbon
energy.
Forward-Looking Statements
Certain information within this report contains
"forward-looking" statements related to Chesapeake Energy
Corporation (the "Company") within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended (the "Exchange
Act") and Section 27A of the Securities Act of 1933 and include
statements based on management's current assumptions and
expectations, including statements regarding the Company's
(sustainability vision, sustainability performance, strategies,
targets, goals, commitments and programs). Forward-looking
statements reflect the Company's current expectations and
projections about future events at the time, and thus involve
uncertainty and risk. The words "believe," "expect," "anticipate,"
"will," "could," "would," "should," "may," "plan," "estimate,"
"intend," "predict," "potential," "continue," and the negatives of
these words and other similar expressions generally identify
forward-looking statements.
It is possible that the Company's future performance may
differ from expectations due to a variety of factors including, but
not limited to the following: the Company's ability to achieve the
strategic plans, goals, targets and commitments set forth in this
Website and unexpected delays, difficulties, and expenses in
executing against such plans, goals, targets and commitments, the
volatility in commodity prices for crude oil and natural gas, the
presence or recoverability of estimated reserves, particularly
during extended periods of low prices for crude oil and natural gas
during the COVID-19 pandemic; the ability to replace reserves;
environmental risks, drilling and operating risks, including the
potential liability for remedial actions or assessments under
existing or future environmental regulations and litigation;
exploration and development risks; competition, government
regulation or other actions; public health crises, such as
pandemics (including COVID-19) and epidemics, and any related
government policies and actions; the potential disruption or
interruption of the Company's operations due to war, accidents,
political events, civil unrest, severe weather, cyber threats,
terrorist acts, or other natural or human causes beyond the
Company's control; and the Company's ability to identify and
mitigate the risks and hazards inherent in operating in the global
energy industry, and the other risk factors discussed in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2022 and any
subsequently filed Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q or the Company's other filings with the Securities and
Exchange Commission.
It is not possible to foresee or identify all such factors.
Any forward-looking statements in this Website are based on certain
assumptions and analyses made by the Company in light of its
experience and perception of historical trends, current conditions,
expected future developments, and other factors it believes are
appropriate in the circumstances. Forward-looking statements are
not a guarantee of future performance and actual results or
developments may differ materially from expectations. While the
Company continually reviews trends and uncertainties affecting the
Company's results or operations and financial condition, the
Company does not assume any obligation to update or supplement any
particular forward-looking statements contained in this Website.
Furthermore, while future events discussed in this Website may be
significant, any significance should not be read as necessarily
rising to the level of materiality of certain disclosures included
in our SEC filings. In addition, many of the disclosures and
performance metrics used and referred to in the plans, goals,
targets and commitments set forth in this Website continue to
evolve and are based on management expectations and assumptions
believed to be reasonable at the time of preparation but should not
be considered guarantees. The standards and performance metrics
used, and the expectations and assumptions they are based on, have
not unless otherwise expressly specified, been verified by any
third party. In addition, while we seek to align these disclosures
with the recommendations of various third-party frameworks, such as
the Task Force on Climate-Related Financial Disclosures ("TCFD"),
we cannot guarantee strict adherence to these framework
recommendations. Additionally, our disclosures based on these
frameworks may change due to revisions in framework requirements,
availability of information, changes in our business or applicable
governmental policy, or other factors, some of which may be beyond
our control.
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SOURCE Chesapeake Energy Corporation