Kinetik Publishes 2021 ESG Report and Announces Appointment of Deborah Byers to its Board of Directors
July 21 2022 - 4:25PM
Kinetik Holdings Inc. (NASDAQ: KNTK) (“
Kinetik” or
the “
Company”) today published its 2021
Environmental, Social and Governance Report (the
“
Report”), highlighting the sustainability
achievements of its predecessors, Altus Midstream Company
(“
Altus”) and BCP Raptor Holdco, LP
(“
BCP”), during the 2021 calendar year. The Report
provides a comprehensive review of Kinetik’s progress towards
advancing a safer, cleaner and more reliable energy future,
building a more diverse and inclusive culture, and investing in the
communities in which it operates.
“We are pleased to share our progress achieved in 2021,” said
Jamie Welch, President and CEO. “We recognize that we can symbolize
energy for change given our influence within our West Texas
communities. Our commitment to advancing the sustainability
initiatives outlined in the 2021 ESG Report is evidenced by our
recently issued Sustainability-Linked Financing Framework and
Senior Notes. We are now the first and only North American-based
midstream company to have linked one hundred percent of our debt
capital structure to environmental and social initiatives. I am
incredibly proud of what we have achieved so far and look forward
to Kinetik’s continued progress towards our ESG goals.”
Kinetik additionally announced the appointment of Deborah Byers
to the Kinetik Board of Directors, effective July 20, 2022. Ms.
Byers will serve as Chair of the Audit Committee and as a member of
the Corporate Governance and Nominating Committee. Ms. Byers’
appointment brings the Board to its full complement of 11
directors.
Ms. Byers recently retired from Ernst and Young
(“EY”) following a distinguished 36-year career in
public accounting while holding multiple leadership roles. From
July 2018 until her retirement in July 2022, she served as EY’s
Americas Industry Leader overseeing the markets and growth strategy
across its primary industry. Ms. Byers served as EY’s Houston
Office Managing Partner and US Energy Leader from July 2013 to July
2018 and Managing Partner of the Southwest Region Strategy &
Transactions business unit from July 2008 to July 2013. In these
roles, she was a leader in the global energy markets and worked
with corporations and investment funds in all phases of energy
investment. Currently, Ms. Byers also serves on the Board of
Excelerate Energy, Inc. Ms. Byers holds a BBA from Baylor
University and is a Certified Public Accountant.
Welch said, “We are really excited to welcome Ms. Byers to our
Board. Her world class background speaks for itself. She will
further enhance our financial reporting and strengthen our
corporate governance. Ms. Byers’ insights and perspectives will be
valuable contributors to Kinetik.”
Kinetik also announced, effective July 20, 2022, Ronald
Schweizer has been appointed to replace Thomas Lefebvre on the
Board of Directors. Mr. Schweizer is currently the Chief Operating
Officer (Americas) at I Squared Capital. He previously served as
Chief Financial Officer at I Squared Capital from August 2013 to
May 2022. He holds a BS in Accounting from the University of
Scranton. Mr. Lefebvre is stepping down since he is now no longer
affiliated with I Squared Capital.
Welch commented, “I would like to thank Mr. Lefebvre for his
support and dedication as a member of our Board over the years. We
wish him well in his future endeavors. We also welcome Mr.
Schweizer to the Board and look forward to continuing to build our
relationship with I Squared Capital."
Highlights of Kinetik’s 2021 ESG Report
include:
Environmental
- Sourced 100% of BCP’s purchased electric power for its operated
assets and facilities from renewable sources beginning in April
2021, making it the first major gathering and processing company in
the Permian Basin to do so, resulting in a 39% reduction in
Kinetik’s Scope 2 emissions between 2020 and 2021
- Reduced Scope 1 and 2 absolute greenhouse gas emissions by 16%
between 2020 and 2021
- Incurred zero environmental fines
People and Communities
- Awarded GPA Midstream’s Perfect Record Award for no lost time
incidents in 2021
- Achieved over 4,700 hours of EHS focused training for field
employees
- Realized a 55% reduction in preventable motor vehicle
accidents
- Completed first full year of employee volunteer and matching
funds program resulting in 182 hours volunteered and over $260,000
funds donated to local community causes
- Launched Kinetik Cares Foundation (formerly EagleNest
Foundation) to provide support to company employees impacted by
unexpected life events
- Increased local sourcing and procurement spend to 75%
- 96% of employees in a survey stated they were proud to work for
Kinetik
Governance
- Incorporated ESG-related metrics into Kinetik’s executive
compensation program
- Adopted Supplier Code of Conduct ensuring suppliers comply with
our policies and goals
While the Report pertains to BCP and Altus standalone 2021
operations, Kinetik has shown an industry-leading commitment to
corporate governance, carbon management practices and fostering an
inclusive work environment in its first several months as a public
company:
- Constituted a Board of Directors independent of control by a
single shareholder, with an annual election of all Directors, and
independent directors chairing each Board Committee
- Partnered with Tachyus to implement Aurion, a software platform
used to estimate, model, forecast and report our carbon
emissions
- Incorporated sustainability performance targets in 100% of our
debt capital financings
Kinetik’s 2021 ESG Report was prepared in accordance with the
Global Reporting Initiative (GRI) Standards and references the
Sustainability Accounting Standards Board (SASB) and the Energy
Infrastructure Council (EIC) / GPA Midstream Association.
The 2021 ESG Report is available below and on Kinetik’s
website.
2021 ESG Report
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast
midstream C-corporation operating in the Delaware Basin. Kinetik is
headquartered in Houston and Midland, Texas. Kinetik provides
comprehensive gathering, transportation, compression, processing
and treating services for companies that produce natural gas,
natural gas liquids, crude oil and water. Kinetik posts
announcements, operational updates, investor information and press
releases on its website, www.kinetik.com.
Contacts
Kinetik Media: (713)
487-4838 Jim SchwartzKinetik
Investors: (713) 487-4832
Maddie WagnerWebsite:
www.kinetik.com
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