W&T Offshore Issues 2022 Corporate Environmental, Social, and Governance Report
16 Agosto 2023 - 5:45AM
W&T Offshore, Inc. (NYSE: WTI) (the “Company” or “W&T”)
today announced that the Company has issued its 2022 Corporate
Environmental, Social, and Governance (“ESG”) report, which is now
available on W&T’s website, www.wtoffshore.com, under the
“Corporate Responsibility” tab.
The 2022 ESG report provides detailed
information about W&T’s ESG initiatives and provides important
performance data for the four-year period from 2019 through 2022.
The Company consulted the Sustainability Accounting Standards
Board’s (“SASB”) Oil and Gas Exploration and Production
Sustainability Accounting Standard, the Global Reporting
Initiative’s (“GRI”) standard for the oil and gas sector, the
recommendations of the Task Force on Climate-related Financial
Disclosures (“TCFD”), and other reporting guidance from industry
frameworks and standards in the preparation of the report.
Tracy W. Krohn, Chairman and CEO, commented, “We
continue to demonstrate our commitment to a high quality,
comprehensive ESG effort by issuing our 2022 ESG report. We have
made significant, positive strides across all three ESG elements,
especially focused on addressing shareholder concerns and improving
our ESG metrics. W&T’s culture of success and sustainability is
built on environmental stewardship, sound corporate governance, and
contributing positively to our employees and the communities where
we work and operate. Earlier this year we added a new Board member,
Dr. Nancy Chang, who is the chair of our Environmental, Safety and
Governance committee that oversees our ESG efforts. We believe that
Dr. Chang will help guide our continuous improvement and assist us
in our commitment to the highest standards of ESG and corporate
governance. We invite you to review this report to learn more about
our ESG program and our plans for improvement in the future.”
The 2022 ESG report provides detailed
information about W&T’s ESG initiatives and provides important
ESG performance data for the four-year period from 2019 through
2022.
Highlights of the report
include:
- Decreased
total Scope 1 GHG emissions 20% from over 435,000 metric tons of
CO2-e in 2019 to 350,000 metric tons of CO2-e in 2022;
- Decreased
onshore facilities air emissions significantly from 2019 to 2022,
particularly the 54% reduction in SOx emissions;
-
Implemented new procedures to estimate and track all waste
management that is recycled, injected, or sent to landfills;
- Enacted
additional substantive changes to compensation programs based on
feedback from our shareholders, affirming our commitment to say on
pay and performance alignment over the long-term;
-
Established an ESG Committee, which will assist in setting the
Company’s general strategy relating to ESG matters and in
developing, implementing, and monitoring initiatives and policies
based on that strategy; and
- Increased the
Board of Directors to five members with Dr. Nancy Chang, the new
chair of the ESG Committee, expanding the size and diversity of the
Board
About W&T Offshore
W&T Offshore, Inc. is an independent oil and
natural gas producer with operations offshore in the Gulf of Mexico
and has grown through acquisitions, exploration and development. As
of June 30, 2023, the Company had working interests in 46 fields in
federal and state waters (which include 38 fields in federal waters
and eight in state waters). The Company has under lease
approximately 578,000 gross acres (419,000 net acres) spanning
across the outer continental shelf off the coasts of Louisiana,
Texas, Mississippi and Alabama, with approximately 8,000 gross
acres in Alabama State waters, 416,500 gross acres on the
conventional shelf and approximately 153,500 gross acres in the
deepwater. A majority of the Company’s daily production is derived
from wells it operates. For more information on W&T, please
visit the Company’s website at www.wtoffshore.com.
CONTACTS: |
Al PetrieInvestor Relations
Coordinatorinvestorrelations@wtoffshore.com713-297-8024 |
Sameer ParasnisExecutive VP and
CFOsparasnis@wtoffshore.com713-513-8654 |
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