Civitas Resources Releases 2023 Corporate Sustainability Report
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.
