HOUSTON, Aug. 10, 2021 /PRNewswire/ -- Oasis
Petroleum Inc. (NASDAQ: OAS) ("Oasis" or the "Company") today
released its inaugural sustainability report, which outlines the
Company's commitment to environmental stewardship, social
responsibility, and corporate governance. The report is available
on the Company's website at www.oasispetroleum.com.
The Oasis Board has unanimously and fully supported the
publication of this report and the continuation of focus and
transparency around Oasis' commitment to sustainable operations and
ESG initiatives.
"At Oasis, we are dedicated to meeting critical energy needs by
producing a cleaner, low-cost barrel for the benefit of our
stakeholders," said Danny Brown,
Oasis' Chief Executive Officer. "Operating sustainably by
protecting the environment, working safely, engaging with local
communities and stakeholders, and exhibiting strong governance is
integral to delivering shareholder value. Our inaugural
sustainability report outlines Oasis' core values, its
long-standing sustainability efforts, ongoing initiatives, and
provides greater transparency regarding our performance and
commitments. We are pleased to share it with our stakeholders,
welcome feedback, and look forward to building on this important
step."
While the report focuses on Oasis' performance during the 2020
calendar year, it also highlights advancements made in early 2021,
and it provides information with respect to historical performance.
Following are select highlights and achievements:
- Environmental Stewardship
-
- Reduced total GHG emissions intensity 51% compared to 2019
levels;
- Transported almost 100% of oil and water via pipeline, reducing
trucks on the road;
- Over a 60% reduction in reportable spills in 2020;
- Social Responsibility
-
- 27% increase in proportion of women in workforce since
2017;
- $4.5 million contributed to
charities and community initiatives since 2010;
- Commitment to Governance
-
- Executive compensation aligns management and shareholders with
75% of equity compensation tied to shareholder returns;
- 86% of Board directors are independent with two-thirds of
committees chaired by women.
Oasis' 2020 Sustainability Report was prepared in alignment with
the Sustainability Accounting Standards Board (SASB) Oil and Gas
Exploration and Production Standards and the American Exploration
and Production Council (AXPC) ESG Metrics Framework.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal securities law. Such forward-looking statements
are subject to a variety of known and unknown risks, uncertainties
and other factors that are difficult to predict and many of which
are beyond management's control. These risks and assumptions are
described in Oasis' annual reports on Form 10-K and other reports
that are available from the United States Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements, which reflect management's view only as
of the date made.
Any forward-looking statement speaks only as of the date on
which such statement is made and the Company undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
About Oasis Petroleum Inc.
Oasis Petroleum Inc. is an independent exploration and
production company with quality and sustainable long-lived assets
in the Williston and Permian Basins. The Company is uniquely
positioned with a best-in-class balance sheet and is focused on
rigorous capital discipline and generating free cash flow by
operating efficiently, safely and responsibly to develop its
unconventional onshore oil-rich resources in the continental
United States. For more
information, please visit the Company's website at
www.oasispetroleum.com.
View original
content:https://www.prnewswire.com/news-releases/oasis-petroleum-inc-releases-inaugural-sustainability-report-301352762.html
SOURCE Oasis Petroleum Inc.