Kinetik publishes its 2021 ESG report and announces the appointment of Deborah Byers to its Board of Directors… | New
HOUSTON and MIDLAND, Texas, July 21. 2022 (GLOBE NEWSWIRE) — Kinetik Holdings Inc. (NASDAQ: KNTK) (“Kinetik” or the “Company”) today released its 2021 Environmental, Social and Governance Report (the “Report”), highlighting achievements sustainability performance of its predecessors, Altus Midstream Company (“Altus”) and BCP Raptor Holdco, LP (“BCP”), in calendar year 2021. The report provides a comprehensive review of Kinetik’s progress toward promoting a safer, cleaner and more reliable energy future, creating a more diverse and inclusive culture and investing in the communities in which it operates.
“We are pleased to share our progress made in 2021,” said Jamie Welch, President and CEO. “We recognize that we can symbolize the energy for change given our influence within our West Texas communities. Our commitment to advancing the sustainability initiatives outlined in the 2021 ESG Report is evidenced by our recently released sustainability finance framework and senior notes. We are now the first and only North American mid-market company to have tied 100% of our debt capital structure to environmental and social initiatives. I’m incredibly proud of what we’ve accomplished so far and look forward to Kinetik’s continued progress toward our ESG goals.
Kinetik also announced the appointment of Deborah Byers to the Kinetik Board of Directors, effective July 20, 2022. Ms. Byers will serve as Chair of the Audit Committee and a member of the Corporate Governance and Nominating Committee. Ms. Byers’ appointment brings the board to its full complement of 11 directors.
Ms. Byers recently retired from Ernst and Young (“EY”) after a distinguished 36-year career in public accountancy while holding several leadership positions. From July 2018 until her retirement in July 2022, she served as Industry Leader for the Americas at EY, overseeing markets and growth strategy in her core industry. Ms. Byers was Managing Partner of EY’s Houston office and Head of US Energy from July 2013 to July 2018 and Managing Partner of the Southwest Region Strategy and Transactions business unit from July 2008 to July 2013. In these roles, she was a market leader in global energy markets and worked with companies and investment funds in all phases of energy investing. Currently, Ms. Byers also serves on the board of directors of Excelerate Energy, Inc. Ms. Byers holds a BBA from Baylor University and is a Certified Public Accountant.
Welch said, “We are truly delighted to welcome Ms. Byers to our Board of Directors. Its world-class experience speaks for itself. It will further improve our financial reporting and strengthen our corporate governance. Ms. Byers’ ideas and perspectives will be valuable contributions to Kinetik.
Kinetik also announced that effective July 20, 2022, Ronald Schweizer has been appointed to replace Thomas Lefebvre on the Board of Directors. Mr. Schweizer is currently COO (Americas) at I Squared Capital. He previously served as Chief Financial Officer at I Squared Capital from August 2013 to May 2022. He holds a BS in Accounting from the University of Scranton. Mr. Lefebvre is stepping down as he is no longer affiliated with I Squared Capital.
Welch commented, “I would like to thank Mr. Lefebvre for his support and dedication as a member of our board over the years. We wish him good luck in his future endeavours. We also welcome Mr. Schweizer to the Board of Directors and look forward to continuing to grow our relationship with I Squared Capital. »
Highlights from Kinetik’s 2021 ESG Report include:
- Obtained 100% of the electricity purchased by BCP for its assets and facilities operated from renewable sources from April 2021, making it the first major collection and processing company in the Permian Basin to do so, which which resulted in a 39% reduction in Kinetik’s Scope 2 emissions between 2020 and 2021
- Reduction of absolute greenhouse gas emissions from scopes 1 and 2 by 16% between 2020 and 2021
- No environmental fine incurred
People and communities
- Awarded GPA Midstream’s Perfect Record Award for No Lost Time Incident in 2021
- Completed over 4,700 hours of EHS-focused training for field employees
- Achieved a 55% reduction in preventable motor vehicle accidents
- Completed the first full year of the employee volunteer and matching fund program, resulting in 182 volunteer hours and over $260,000 in funds donated to local community causes
- Launched the Kinetik Cares Foundation (formerly EagleNest Foundation) to provide support to company employees impacted by unexpected life events
- Increased procurement and local procurement spending to 75%
- 96% of employees surveyed said they are proud to work for Kinetik
- Incorporation of ESG measures into Kinetik’s executive compensation program
- Adoption of Supplier Code of Conduct ensuring suppliers adhere to our policies and objectives
Although the report is for BCP and Altus standalone operations in 2021, Kinetik has demonstrated an industry-leading commitment to corporate governance, carbon management practices and the promotion of an inclusive work environment during its first months as a public company:
- Constitution of a board of directors independent of the control of a single shareholder, with an annual election of all directors and independent directors chairing each committee of the board
- Partnership with Tachyus to implement Aurion, a software platform used to estimate, model, forecast and report our carbon emissions
- Incorporation of sustainability performance objectives into 100% of our debt financings
Kinetik’s 2021 ESG Report has been prepared in accordance with Global Reporting Initiative (GRI) standards and references the Sustainability Accounting Standards Board (SASB) and the Energy Infrastructure Council (EIC) / GPA Midstream Association.
The 2021 ESG report is available below and on the Kinetik website.
2021 ESG Report
About Kinetik Management Inc.
Kinetik is a fully integrated, pure-play, Permian to Gulf Coast Midsize C-Corporation operating in the Delaware Basin. Kinetik is headquartered in Houston and Midland, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and processing services to companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.
Kinetik Media: (713) 487-4838 Jim Schwartz
Kinetik Investors: (713) 487-4832 Maddie Wagner
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