Gulfport Energy Achieves Grade “A” MiQ Certification for Appalachia Operations and Publishes 2023 Corporate Sustainability Report
October 31 2023 - 4:06PM
Business Wire
Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the
“Company”) today announced that it has achieved a grade “A” under
the MiQ methane emissions standard for its natural gas production
across the entirety of its Appalachia operations. In addition, the
Company published its 2023 Corporate Sustainability Report,
providing updates on topics significant to stakeholders and an
update on Gulfport’s commitment to emission intensity reductions
throughout our operations.
John Reinhart, President and CEO, commented, "As a leading
natural gas producer in Appalachia, Gulfport is committed to
emission intensity reductions throughout our operations, and the A
grade certification announced today underscores our ongoing
commitment to responsibly produce and deliver independently
certified gas to domestic markets. In addition, we are pleased to
share with you Gulfport’s 2023 Corporate Sustainability Report, a
direct reflection of our continuous improvement culture, and our
commitment to responsible and transparent environmental, social and
governance practices. While we are proud of our progress, we
recognize that there is more work to be done to shape our
sustainable future. We remain committed to increasing value for our
shareholders while being a good steward of the assets we operate,
which we believe benefits all our stakeholders.”
Corporate Sustainability Report Highlights
- Received an “A” grade MiQ certification for all Appalachia
assets in 2023
- Reduced methane emissions intensity by 25% in 2022 compared to
2021
- Reused or recycled 71% of water generated from production and
flowback operations during 2022
- Reduced combined total recordable incident rate by 43% in 2022
compared to 2021
- Increased diversity in the workplace with 45% of new hires
identifying as gender or ethnically diverse
- Appointed two gender diverse directors in 2023, resulting in
60% diversity of Independent Directors
- Partnered with organizations that support Gulfport’s key focus
areas in Oklahoma and Ohio through volunteering and monetary
contributions
The full Corporate Sustainability Report can be accessed by
clicking here or visiting
www.gulfportenergy.com/sustainability.
MiQ Certification
Gulfport’s Appalachia assets were independently analyzed by MiQ,
an independent non-profit organization dedicated to facilitating a
rapid reduction in methane emissions from the oil and gas sector.
The certification process included an independent assessment of the
Company’s emissions performance from the wellhead to delivery,
focused on monitoring and best practices, with validation by a
third-party auditor. The MiQ standard incorporates A to F grades
and is an annual certification that validates the Company’s
commitment to managing, reducing, and accurately reporting methane
emissions. Gulfport achieved the highest available “A” grade in all
three major areas for its Appalachia operations: calculated methane
intensity, robust monitoring technology deployment (at facility-
and source-levels) and company practices.
About Gulfport
Gulfport is an independent natural gas-weighted exploration and
production company focused on the exploration, acquisition and
production of natural gas, crude oil and NGL in the United States
with primary focus in the Appalachia and Anadarko basins. Our
principal properties are located in eastern Ohio targeting the
Utica and Marcellus formations and in central Oklahoma targeting
the SCOOP Woodford and SCOOP Springer formations.
About MiQ
MiQ is an independent not-for-profit established to facilitate a
rapid reduction in methane emissions from the oil and gas sector.
MiQ is the fastest growing and globally recognized methane
emissions certification standard. Certification allows global
society to credibly differentiate gas based on its methane
emissions performance, providing a market mechanism that
incentivizes methane reduction. MiQ’s vision is to create a market
where certified natural gas can be traded like other historical
commodities, ultimately creating incentives to drive down methane
emissions across the board.
About Independently Certified Gas
Independently certified gas (ICG) is natural gas produced by
companies whose operations are independently verified by
third-party auditors. This clear, neutral assessment of natural gas
provides operators with the information they need to drive down
their emissions. The MiQ standard is enabling the growth of a
market for ICG to accelerate the reduction of methane emissions
from the oil and gas industry.
Forward Looking Statements
This press release includes “forward-looking statements” for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934. Forward-looking statements are statements other than
statements of historical fact. They include statements regarding
Gulfport’s current expectations, management's outlook guidance or
forecasts of future events, projected cash flow and liquidity,
inflation, share repurchases and other return of capital plans, its
ability to enhance cash flow and financial flexibility, future
production and commodity mix, plans and objectives for future
operations, the ability of our employees, portfolio strength and
operational leadership to create long-term value and the
assumptions on which such statements are based. Gulfport believes
the expectations and forecasts reflected in the forward-looking
statements are reasonable, Gulfport can give no assurance they will
prove to have been correct. They can be affected by inaccurate or
changed assumptions or by known or unknown risks and uncertainties.
Important risks, assumptions and other important factors that could
cause future results to differ materially from those expressed in
the forward-looking statements are described under "Risk Factors"
in Item 1A of Gulfport’s annual report on Form 10-K for the year
ended December 31, 2022 and any updates to those factors set forth
in Gulfport's subsequent quarterly reports on Form 10-Q or current
reports on Form 8-K (available at
https://www.gulfportenergy.com/investors/sec-filings). Gulfport
undertakes no obligation to release publicly any revisions to any
forward-looking statements, to report events or to report the
occurrence of unanticipated events.
Investors should note that Gulfport announces financial
information in SEC filings, press releases and public conference
calls. Gulfport may use the Investors section of its website
(www.gulfportenergy.com) to communicate with investors. It is
possible that the financial and other information posted there
could be deemed to be material information. The information on
Gulfport’s website is not part of this filing.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231031029260/en/
Jessica Antle – Vice President, Investor Relations
jantle@gulfportenergy.com 405-252-4550
Gulfport Energy (NYSE:GPOR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gulfport Energy (NYSE:GPOR)
Historical Stock Chart
From Jul 2023 to Jul 2024