DENVER, Oct. 5, 2021 /PRNewswire/ -- Antero
Resources Corporation (NYSE: AR) ("Antero Resources" or the
"Company") today announced the publication of its 2020 ESG Report
highlighting its focus on People, Performance and Purpose. The
report details Antero Resources' ongoing commitment to the
communities in which it operates, safe operations, environmental
excellence and strong governance. The full report is available at
www.anteroresources.com.
Report Highlights:
- Social Responsibility & Safety
-
- Paid approximately $375
million in lease and royalty payments to West Virginia and Ohio land owners
- Generated and paid property and severance taxes of
$112 million in West Virginia and Ohio
- Invested $26 million on
community road improvements
- Antero Foundation contributed over $682,000 in direct community donations in
2020
- Exported approximately 60,000 Bbls/d of LPG (1)
in 2020, including approximately one-third to developing
nations
- Reduced Total Recordable Incident Rate (TRIR) by 35% from
2016 to 2020
- Reduced Total Lost Time Incident Rate (LTIR) by 68% from
2016 to 2020
- Environmental Leadership
-
- Zero routine flaring as defined by the World Bank's Zero
Routine Flaring by 2030 Initiative
- Flaring intensity of 0.0%
- Reduced GHG Intensity (Scope 1 Emissions) by 46% from 2016
to 2020 to 2.0 metric tons CO2e per MBOE
- Governance
-
- 88% of the Board of Directors are independent and 43%
of independent directors are female
- Incorporated ESG performance metrics with executive
compensation
- Established ESG Committee of Board of Directors
- Launched ESG Advisory Council - a cross-disciplinary group
of internal subject matter experts that assist the Board's ESG
Committee with management of ESG risks, opportunities and
strategies
- Continued progress on alignment to TCFD and SASB disclosure
frameworks and standards
2025 Environmental Goals:
- 50% reduction in methane leak loss rate to under
0.025%
- 10% reduction in GHG intensity to below 2.0 metric tons
CO2e per MBOE
- Targeting Net Zero Scope 1 emissions
- Align with TCFD and SASB guidelines
Paul Rady, Chairman, President
and Chief Executive Officer of Antero Resources commented, "This
year's ESG report highlights the foundation of Antero Resources'
success – a focus on People, Performance, and Purpose. Our
relentless focus on these principals has allowed us to successfully
navigate the ever-changing global 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. As the largest LPG producer and
exporter, Antero Resources is uniquely positioned to directly
impact populations living in energy poverty. In 2020, approximately
one-third of our LPG exports went to developing nations, including
the nations of Nigeria,
Peru and India, improving people's health, safety and
livelihood through the displacement of more expensive and
carbon-intensive fossil fuels."
Michael Kennedy, CFO and Senior
Vice President of Finance of Antero Resources said, "Antero's
outstanding ESG performance is a direct result of our unwavering
commitment to maintain our leadership position as a responsible
energy producer. Our performance, workplace culture and 2025 ESG
goals are evidence of our commitment to care for our community,
employees and the environment. Antero's ESG strategy allows our
company and our stakeholders to support a low-carbon future
transition by producing natural gas and natural gas liquids
according to the highest safety, environmental and governance
standards."
(1) Liquid Petroleum Gas,
typically 75% propane and 25% butane.
Presentation
The Company posted its 2020 ESG Report presentation on its
website at www.anteroresources.com. Information on the Company's
website does not constitute a portion of, and is not incorporated
by reference into, this press release.
Antero Resources is an independent natural gas and natural
gas liquids company engaged in the acquisition, development and
production of unconventional properties located in the Appalachian
Basin in West Virginia and
Ohio. In conjunction with its
affiliate, Antero Midstream (NYSE: AM), Antero is one of the most
integrated natural gas producers in the U.S. The Company's
website is located at
www.anteroresources.com.
While Antero Resources
believes all historical calculations presented in this release and
the ESG Report were completed consistent with current industry
standards, the numbers provided have not been audited by a third
party audit firm.
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 Resources'
control. All statements, except for statements of historical fact,
made in this release regarding activities, events or developments
Antero Resources expects, believes or anticipates will or may occur
in the future, such as those regarding our strategy, future
operations and forecasts of future events, including our
environmental goals, 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. These
forward-looking statements are management's belief, based on
currently available information, as to the outcome and timing of
future events. Although Antero Resources 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 Resources 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 ("TCFD"), 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 Resources cautions you that these forward-looking
statements are subject to all of the risks and uncertainties,
incident to the exploration for and development, production,
gathering and sale of natural gas, NGLs and oil most of which are
difficult to predict and many of which are beyond the Antero
Resources' control. These risks include, but are not limited to,
commodity price volatility, inflation, lack of availability of
drilling and production equipment and services, environmental
risks, drilling and other operating risks, regulatory changes, the
uncertainty inherent in estimating natural gas and oil reserves and
in projecting future rates of production, cash flow and access to
capital, the timing of development expenditures, impacts of world
health event, including the COVID-19 pandemic, cybersecurity risks
and the other risks described under the heading " Risk Factors" in
Antero Resources' filings with the SEC.
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. 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.
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 Resources' SEC filings.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/antero-resources-publishes-2020-esg-report-and-reiterates-2025-environmental-goals-301393375.html
SOURCE Antero Resources Corporation