Chord Energy Releases 2022 Sustainability Report

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Sep 13, 2023, 10:06 ET

HOUSTON, Sept. 13, 2023 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord" or the "Company") today announced the release of its 2022 Sustainability Report, which highlights Chord's commitment to environmental stewardship, social responsibility and corporate governance. The 2022 Sustainability Report is Chord's inaugural sustainability report following the combination of Oasis Petroleum Inc. and Whiting Petroleum Corporation in a merger of equals on July 1, 2022. The report is available on the Company's website at www.chordenergy.com/sustainability.

"Last year marked a pivotal year for our organization as we joined together two premier operators in the Williston Basin to form Chord Energy," said Danny Brown, Chord Energy's President and Chief Executive Officer. "We are pleased to share with our stakeholders Chord's 2022 Sustainability Report, which reflects our commitment to delivering affordable and reliable energy in a sustainable and responsible manner. Our goal with this report is to provide transparent and authentic information about Chord's ESG progress, including our focus areas of emissions reductions, workforce health and safety, and corporate governance. We welcome feedback from our stakeholders on our progress and look forward to building upon our ESG efforts to shape an even stronger future for Chord and the communities we serve."

Highlights from Chord's 2022 Sustainability Report include:

Environmental Stewardship

53% decrease in operated Scope 1 GHG emissions intensity in 2022 since 2019
47% decrease in operated Scope 1 methane emissions intensity in 2022 since 2019
Alignment with the World Bank Zero Routine Flaring initiative

Social Responsibility

47% year-over-year reduction in the Total Recordable Incident Rate (TRIR) as compared to 2021
14% year-over-year reduction in the Preventable Vehicle Incident Rate as compared to 2021

Corporate Governance

80% of directors are independent
50% of directors are women

The contents of the 2022 Sustainability Report were informed by our stakeholders and guided by various frameworks, including the Task Force on Climate-related Financial Disclosures (TCFD), the Sustainability Accounting Standards Board's (SASB) Extractives & Minerals Processing Sector: Oil & Gas – Exploration & Production Standard, the Global Reporting Initiative (GRI) Standard for Oil & Gas, and the American Exploration and Production Council (AXPC) ESG Metrics Framework.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company with quality and sustainable long-lived assets in the Williston Basin. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company's website at www.chordenergy.com.

Forward-Looking Statements

This press release may include certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management's control. These risks and assumptions are described in the Company's annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission ("SEC"). Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's view only as of the date made.

Any forward-looking statement speaks only as of the date on which such statement is made and Chord undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Chord Energy Corp.