Oklahoma City’s Ascent Resources,LLC is out with its 2022 Environmental, Social and Governance Report.
Among the company’s improvements was a 15% reduction of its Scope 1 GHG emissions from 2021 and 33% since 2020.
Scope 1 emissions are defined as direct greenhouse gas emissions from sources controlled or owned by the orgniazation, such as boilers, vehicles and furnaces.
Ascent reported a 50% reduction in Scope 1 methane emissions in 2022 compared to the previous year. The company also cited it eliminated more than 89% of its natural gas-powered pneumatic control devices by year-end 2022.
“At Ascent, we remain committed to our ESG priorities and are pleased with the progress and accomplishments we made in 2022,” said Jeff Fisher, Ascent’s Chairman and Chief Executive Officer.
“As we move forward, we remain focused on our ESG efforts, as we view these as being critical to sustainability in an industry that is vital to the world’s need for low-cost, reliable, and clean burning energy.”
2022 ESG Report Highlights
- Reduced Scope 1 GHG emissions intensity by 15% compared to 2021 and more than 33% since 2020
- Reduced Scope 1 methane emissions intensity by 50% compared to 2021 (methane intensity is 86% below the ONE Future target)
- Eliminated over 69% of our natural gas-powered pneumatic control devices by year-end 2022
- Substantially reduced Scope 1 GHG emissions intensity and methane emissions intensity on the assets acquired in 2022
- Reused 84% of all produced flowback water in our operations, a company record
- Achieved Grade A certification from MiQ on substantially all of our production
- Certified responsibly sourced gas resulted in 9 RSG deals into a growing market
- Paid more than $850 million to royalty interest owners in all 50 states, with 75% of the payments made to Ohio residents
- Paid over $50 million in taxes, helping to fund public works in local economies
- Spent over $16 million to repair and improve 32 miles of roads in Ohio
- Increased employee volunteer hours to more than 3,400 hours in Ohio and Oklahoma communities
- Recognized by Great Place to Work® for an 8th consecutive year in April of 2023
- Governed by a 12-member Board which includes two independent directors
- Active Audit, Environmental, Sustainability and Corporate Responsibility, and Compensation Committees ensure full and proper governance of the company
- ESG performance metrics are included in employee and management compensation
The entire Environmental, Social and Governance Report can be found at https://www.ascentresources.com/responsibility.