Report Highlights Company's Progress on
Ambitious Sustainability Commitments
DENVER, Aug. 7, 2023
/PRNewswire/ -- Civitas Resources, Inc. (NYSE: CIVI) released its
second Corporate Sustainability Report, which highlights the
progress made in 2022 related to environmental, social, and
governance factors, and details how Civitas continues to build on
its already robust sustainability approach and practices. The new
report can be found on the company's sustainability page:
Sustainability: Protecting Colorado's Environment | Civitas
Resources
"Two years ago, we set ambitious goals for Civitas Resources
around our future performance and priorities as an industry
leader," said Civitas President and CEO M.
Chris Doyle. "This year, we continued to build on our
commitment to safe operations, the environment, and the communities
where we operate. As such, we continue to distinguish ourselves
among exploration and production companies as a sustainability
leader with bold actions."
Some of Civitas' major sustainability milestones and initiatives
captured in this year's report include the company's new commitment
to reduce its scope 1 greenhouse gas emissions by 50 percent by
2027 against a 2021 baseline, enhanced data sourcing and management
capabilities, a companywide retrofit of its natural gas pneumatic
devices, the launch of the Civitas Community Foundation, and
improvements in the diversity of the company's board.
Some of the company's additional 2022 sustainability highlights
include the following:
- Equipped more than 90 locations with over 100 real-time air
monitoring stations, operating 24/7
- Committed to voluntarily plug 42 wells orphaned by previous
operators – making up 10% of all Colorado orphan wells as of January 1, 2022
- Achieved zero routine flaring as of January 2022
- Maintained an annual Total Recordable Incident Rate (TRIR) of
0.26
- Contributed ~1.8MM to local social causes and humanitarian
aid
- Published Human Rights and Biodiversity policies
The publication of this report coincides with Civitas' evolution
from being Colorado's largest
pure-play operator to extending the Company's asset base into the
Permian and Delaware basins.
Civitas aspires to bring the same level of rigor in measurement and
disclosure to these new assets as it has for all the Company's
assets across its footprint to date.
About Civitas Resources, Inc.
Civitas Resources, Inc. is an independent, domestic oil and
natural gas producer developing premier assets in the Denver-Julesburg (DJ) and Permian basins. The Company
has a proven business model combining capital discipline, a strong
balance sheet, sustainable cash flow generation, and peer-leading
cash returns to shareholders. Civitas employs leading ESG practices
and is Colorado's first carbon
neutral oil and gas producer. For more information about Civitas,
please visit www.civitasresources.com.
Contact:
Rich Coolidge
info@civiresources.com
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SOURCE Civitas Resources, Inc.
