DENVER, Oct. 5, 2021 /PRNewswire/ -- Antero
Midstream Corporation (NYSE: AM) ("Antero Midstream" or
the "Company") today announced the publication of its 2020 ESG
Report highlighting its focus on People, Performance and
Purpose. The report details Antero Midstream's ongoing
commitment to the communities in which it operates, safe
operations, environmental excellence and strong
governance. The full report is available at
www.anteromidstream.com.
Report Highlights:
- Social Responsibility & Safety
-
- Provided full value chain midstream services that allowed
Antero Resources to export approximately 60,000 Bbls/d of LPG
(1) in 2020, including approximately one-third to
developing nations
- Generated and paid property and severance taxes of
$6 million in West Virginia and Ohio
- Antero Foundation contributed over $682,000 in direct community donations in
2020
- Six consecutive years without an employee Lost Time
Incident
- Reduced Total Recordable Incident Rate (TRIR) by 62% from
2016 to 2020
- Environmental Leadership
-
- Reduced methane leak loss rate to 0.015%, significantly
below the ONE future industry goal of 1% and more than 50% lower
than the midstream industry peer average of 0.033%
- Recycled and reused 84% of total wastewater gathered and
100% of fresh water used in completions was transported by
pipeline, eliminating 32 million truck traffic miles and avoiding
14,000 metric tons of CO2e
- Governance
-
- 78% of the Board of Directors are independent and 29% of the
independent directors are female
- Aligned executive compensation with ESG performance
- Established ESG Committee of Board of Directors
- Launched ESG advisory council, a cross-disciplinary group of
internal subject matter experts that assists the ESG Committee with
the management of ESG risks, opportunities and strategies
2025 Environmental
Goals:
- 100% reduction in pipeline maintenance emissions
- Align with TCFD and SASB disclosure frameworks and
standards
Paul Rady, Chairman and CEO of
Antero Midstream commented, "This year's ESG report highlights the
foundation of Antero Midstream's success – a focus on People,
Performance, and Purpose. Our relentless focus on these principals
has allowed us to successfully navigate the ever-changing economy,
while continuing to deliver stakeholder value. Our dedicated and
talented employees responded to the volatility in 2020 with
relentless determination to safely continue operations while
recognizing that the work we do, and the energy we deliver is
essential to building our local communities and global
economies."
Brendan Krueger, CFO of Antero
Midstream said, "From the start, Antero Midstream has focused on
minimizing our operational and environmental footprint in our
communities. This commitment led us to construct the largest water
pipeline system in Appalachia, eliminating 32 million miles of
truck traffic from local roads in 2020. Looking forward, we
continue to focus on operating expense and capital efficiencies,
specifically matching our infrastructure capacity build out with
expected throughput volumes, eliminating routine flaring. This
proven strategy allows us to minimize inefficiencies from excess
infrastructure and maintain high asset utilization rates. This
generates consistent returns on invested capital and most
importantly, improves the communities we operate in. We will
continue to strive to be the employer of choice in West Virginia and Ohio with a culture of continuous improvement
for our stakeholders."
1. Liquid Petroleum Gas, typically 75% propane and 25%
butane
Presentation
The Company posted its 2020 ESG Report presentation on its
website at www.anteromidstream.com. Information on the Company's
website does not constitute a portion of, and is not incorporated
by reference into, this press release.
Antero Midstream Corporation is a Delaware corporation that owns, operates and
develops midstream gathering, compression, processing and
fractionation assets located in the Appalachian Basin, as well as
integrated water assets that primarily service Antero Resources
Corporation's properties.
This release includes "forward-looking statements." Such
forward-looking statements are subject to a number of risks and
uncertainties, many of which are not under Antero Midstream's
control. All statements, except for statements of historical fact,
made in this release regarding activities, events or developments
Antero Midstream expects, believes or anticipates will or may occur
in the future, such as statements regarding Antero Midstream's
ability to execute its business plan and return capital to its
stockholders, information regarding Antero Midstream's return of
capital policy, information regarding long-term financial and
operating outlooks for Antero Midstream and Antero Resources,
information regarding Antero Resources' expected future growth and
its ability to meet its drilling and development plan and
the participation level of Antero Resources' drilling partner and
the impact on demand for Antero Midstream's services as a result of
incremental production by Antero Resources, are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. All
forward-looking statements speak only as of the date of this
release. Although Antero Midstream believes that the plans,
intentions and expectations reflected in or suggested by the
forward-looking statements are reasonable, there is no assurance
that these plans, intentions or expectations will be achieved.
Therefore, actual outcomes and results could materially differ from
what is expressed, implied or forecast in such statements. Except
as required by law, Antero Midstream expressly disclaims any
obligation to and does not intend to publicly update or revise any
forward-looking statements.
In addition, many of the standards and metrics used in
preparing this release and the ESG Report 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 metrics used, and the expectations
and assumptions they are based on, have not 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, 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.
Antero Midstream cautions you that these forward-looking
statements are subject to all of the risks and uncertainties
incident to our business, most of which are difficult to predict
and many of which are beyond Antero Midstream's control. These
risks include, but are not limited to, commodity price volatility,
inflation, environmental risks, Antero Resources' drilling and
completion and other operating risks, regulatory changes, the
uncertainty inherent in projecting Antero Resources' future rates
of production, cash flows and access to capital, the timing of
development expenditures, impacts of world health events, including
the COVID-19 pandemic, cybersecurity risk, and the other risks
described under the heading "Item 1A. Risk Factors" in Antero
Midstream's Annual Report on Form 10-K for the year ended
December 31, 2020.
This release and the ESG Report contain statements based on
hypothetical or severely adverse scenarios and assumptions, and
these statements should not necessarily be viewed as being
representative of current or actual risk or forecasts of expected
risk. While future events discussed in this release or the report
may be significant, any significance should not be read as
necessarily rising to the level of materiality of certain
disclosures included in Antero Midstream's SEC filings. These
scenarios cannot account for the entire realm of possible risks and
have been selected based on what we believe to be a reasonable
range of possible circumstances based on information currently
available to us and the reasonableness of assumptions inherent in
certain scenarios; however, our selection of scenarios may change
over time as circumstances change.
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SOURCE Antero Midstream Corporation