Noble Energy, Inc. (Nasdaq: NBL) ("Noble Energy" or the "Company") published its 2019 Sustainability Report today, demonstrating strong results in the Company’s focus areas of improving environmental and climate performance, protecting health and safety and making a positive impact on the communities where its employees live and work.
David L. Stover, Noble Energy’s Chairman and Chief Executive Officer, stated, "I am proud to present Noble Energy's 2019 Sustainability Report. It is meaningful to publish this ninth annual report during a pandemic that powerfully underscores how essential it is for companies to be managed sustainably, prudently and responsively. With active oversight from the Safety, Sustainability and Corporate Responsibility Committee of our Board of Directors, we’ve continued to progress the Company’s environmental, social and governance initiatives. Through our continuous-improvement efforts in 2019, we achieved significant progress in the areas of emissions, safety and surface impact, and we remain focused on advancing our sustainability culture in 2020."
To increase transparency and respond to feedback from stakeholders, Noble Energy integrated the Sustainable Accounting Standards Board (SASB) framework into the Company’s sustainability assessment, performance and reporting along with IPIECA and GRI standards. The Company also mapped its ESG and sustainability priorities to the United Nations Sustainable Development Goals (SDGs) for the first time in this report.
The 2019 Sustainability Report highlights numerous noteworthy accomplishments, including:
- Reduced global greenhouse gas emissions intensity by 12% through investment in technologies and best practices that include leak detection and repair (LDAR) programs in the U.S. Onshore business and transfer of this best practice to Israel, where the Company conducted LDAR campaigns at both the Tamar platform and Ashdod Onshore Terminal.
- Eliminated more than 90% of greenhouse gas emissions and more than 95% of surface impact in the Mustang area of Colorado through the Company’s newest, innovative, tankless production facilities.
- Decreased flaring by 50% in the Permian Basin through initiatives that include row development, construction of two electrical substations that power most of the Company’s field operations, and installation of central gathering facilities that can accommodate peak production from new wells.
- Delivered first gas from the Leviathan project offshore Israel, which further diversified the Company’s assets, will enable Israel to meet its goal of being coal free by 2025, and underpins stability and economic growth for the Eastern Mediterranean Region.
- Improved the Company’s total recordable incident rate (TRIR) by 26%, achieved record safety performance onshore and world-record drilling efficiency in the DJ Basin through a renewed emphasis on "safe and efficient operations" and a mobile app that enables employees to proactively share any observed potential hazard.
- Contributed more than $9.8 million to the health, education and improvement of our communities, which includes supporting human rights through organizations focused on human trafficking.
Learn more about Noble Energy’s sustainability investments and performance in the 2019 Sustainability Report.
Noble Energy (NASDAQ: NBL) is an independent oil and natural gas exploration and production company committed to meeting the world’s growing energy needs and delivering leading returns to shareholders. The Company operates a high-quality portfolio of assets onshore in the United States and offshore in the Eastern Mediterranean and off the west coast of Africa. Founded more than 85 years ago, Noble Energy is guided by its values, its commitment to safety, and respect for stakeholders, communities and the environment. For more information on how the Company fulfills its purpose: Energizing the World, Bettering People’s Lives®, visit https://www.nblenergy.com.
This news release contains certain "forward-looking statements" within the meaning of federal securities laws. Words such as "anticipates", "believes", "expects", "intends", "will", "should", "may", and similar expressions may be used to identify forward-looking statements. Forward-looking statements are not statements of historical fact and reflect Noble Energy's current views about future events. Such forward-looking statements may include, but are not limited to, future financial and operating results, and other statements that are not historical facts, including estimates of oil and natural gas reserves and resources, estimates of future production, assumptions regarding future oil and natural gas pricing, planned drilling activity, future results of operations, projected cash flow and liquidity, business strategy and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this news release will occur as projected and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals, the potential adverse impact of the COVID-19 pandemic on the Company’s business, financial condition and results of operations, and the markets and communities in which the Company operates, and other risks inherent in Noble Energy's businesses that are discussed in Noble Energy's most recent annual reports on Form 10-K, quarterly report on Form 10-Q, and in other Noble Energy reports on file with the Securities and Exchange Commission. These reports are also available from the sources described above. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Noble Energy does not assume any obligation to update any forward-looking statements should circumstances or management’s estimates or opinions change.