ASCENT RESOURCES RELEASES 2022 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

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Aug 08, 2023, 09:00 ET

OKLAHOMA CITY, Aug. 8, 2023 /PRNewswire/ -- Ascent Resources, LLC (together with its subsidiaries, "Ascent" or the "Company") announced today that it has published its 2022 Environmental, Social and Governance Report. This report details the Company's environmental, social and governance efforts and accomplishments over the course of the 2022 calendar year.

Jeff Fisher, Ascent's Chairman and Chief Executive Officer, commented, "We are pleased to announce that we have issued our fifth ESG Report. At Ascent, we remain committed to our ESG priorities and are pleased with the progress and accomplishments we made in 2022. I want to personally thank our team of dedicated employees for another year of strong results. As we move forward, we remain focused on our ESG efforts, as we view these as being critical to sustainability in an industry that is vital to the world's need for low-cost, reliable, and clean burning energy."

2022 ESG Report Highlights

Environmental

Reduced Scope 1 GHG emissions intensity by 15% compared to 2021 and more than 33% since 2020
Reduced Scope 1 methane emissions intensity by 50% compared to 2021 (methane intensity is 86% below the ONE Future target)
Eliminated over 69% of our natural gas-powered pneumatic control devices by year-end 2022
Substantially reduced Scope 1 GHG emissions intensity and methane emissions intensity on the assets acquired in 2022
Reused 84% of all produced flowback water in our operations, a company record
Achieved Grade A certification from MiQ on substantially all of our production
Certified responsibly sourced gas resulted in 9 RSG deals into a growing market

Social

Paid more than $850 million to royalty interest owners in all 50 states, with 75% of the payments made to Ohio residents
Paid over $50 million in taxes, helping to fund public works in local economies
Spent over $16 million to repair and improve 32 miles of roads in Ohio
Increased employee volunteer hours to more than 3,400 hours in Ohio and Oklahoma communities
Recognized by Great Place to Work_® for an 8^th consecutive year in April of 2023

Governance

Governed by a 12-member Board which includes two independent directors
Active Audit, Environmental, Sustainability and Corporate Responsibility, and Compensation Committees ensure full and proper governance of the company
ESG performance metrics are included in employee and management compensation

The entire Environmental, Social and Governance Report can be found at https://www.ascentresources.com/responsibility.

About Ascent Resources:

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]

SOURCE ASCENT RESOURCES, LLC