Surge Energy Publishes 2022 Corporate Sustainability Report

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Oct 18, 2022, 10:52 ET

HOUSTON, Oct. 18, 2022 /PRNewswire/ -- Surge Energy US Holdings Company ("Surge" or the "Company") today announced the release of the Company's 2022 Corporate Sustainability Report. This report is the Company's third annual report, and its first report made publicly available to all stakeholders, which provides a comprehensive overview of Surge's sustainability performance in 2021 as well as significant progress made on relevant environmental, social, and governance ("ESG") initiatives.

"I am pleased to share the progress we have made to advance our ESG priorities over the past year and how we continue to deliver sustainable value for our stakeholders. Our measurable accomplishments are a direct result of the culture the Surge team has fostered since our inception, along with our steadfast commitment to optimizing our operations," stated Linhua Guan, Surge's CEO. "We continue to build on this work and enhance our ability to responsibly produce critical energy resources for years to come. This includes our newest commitment to four distinct sustainability targets that we believe will align our workforce on sustainability initiatives and accelerate performance improvement."

Highlights from Surge's 2022 sustainability report include:

The results of Surge's first-ever materiality assessment conducted to more holistically evaluate the ESG issues that matter most to Surge's business and key stakeholders
Four new ESG goals addressing Scope 1 GHG intensity, frac fleet fuel consumption, Scope 1 methane intensity, and recycled water use
Disclosures in response to the Sustainability Accounting Standards Board ("SASB") recommended disclosures for the Oil and Gas – Exploration & Production industry
New employee diversity performance data aligned with Equal Employment Opportunity (EEO) -1 categories
Safety performance highlights including 40 consecutive months with zero recordable incidents during construction
Efforts taken to reduce the Company's environmental impact, such as:

Commissioning a second electrical substation scheduled to come online in late 2022, which will allow for the replacement of on-site diesel power generation, reducing costs and eliminating local emissions from the majority of Surge's acreage; and
Opening a fourth water recycling facility to substantially increase the use of recycled produced water in completions while reducing the water volumes distributed to disposal wells

Read Surge's full 2022 Corporate Sustainability Report HERE. For more information about sustainability at Surge, please visit SurgeEnergyA.com/corporate-responsibility/.

About Surge Energy

Surge Energy is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 114,000 net acres in the Permian Basin. For more information, visit our website at www.SurgeEnergyA.com.

SOURCE Surge Energy