Pioneer Natural Resources Releases 2023 Sustainability Report
27 Julho 2023 - 5:15PM
Business Wire
Pioneer Natural Resources Company (NYSE: PXD) ("Pioneer"
or "the Company") today announced the publication of its 2023
Sustainability Report, highlighting the Company’s focus and
significant progress on environmental, social and governance (ESG)
initiatives. Pioneer incorporated the Task Force on Climate-related
Financial Disclosure (TCFD) framework into this report to provide a
more comprehensive overview of the Company’s sustainability
practices. The report details Pioneer's leading ESG strategy, which
includes significant progress on environmental practices and
highlights the Company’s continued support for its employees and
local communities.
Highlights from Pioneer’s 2023 Sustainability Report
include:
- Established a methane intensity target in accordance with
the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative – As
one of the first U.S. operators to commit to OGMP 2.0, Pioneer has
established a new target for methane intensity of 0.20% or less in
2025, which places Pioneer on the path to achieving the OGMP “Gold
Standard” designation.
- Continued progress toward emission reduction targets –
Pioneer achieved a 22% reduction in greenhouse gas (GHG) emissions
intensity and a 64% reduction in methane emissions intensity during
2022 compared to the Company’s 2019 baseline.
- Focused on flaring reduction – Pioneer achieved a
flaring intensity of 0.54% in 2022, well below the Company’s goal
to limit flaring to 1% of natural gas produced. As previously
announced, Pioneer plans to end routine flaring by 2025. This
commitment is in accordance with the World Bank standards and
demonstrates Pioneer’s leading efforts in environmental
stewardship.
- Progressed renewable energy strategy – Pioneer continues
to advance the electrification of field operations through a
large-scale renewable energy project on Pioneer owned surface
acreage in partnership with a subsidiary of NextEra Energy
Resources, LLC. Construction began in 2023 on the 51-turbine,
140-megawatt wind farm project and is expected to begin supplying
power to Pioneer operations in 2024.
- Reduced freshwater usage – Pioneer decreased its
dependence on freshwater used in completions to 23% during 2022.
This achievement represents significant progress in realizing the
Company’s target to reduce freshwater used in completions to 20% or
less by 2026. Pioneer’s improvement is underpinned by increased
recycling capabilities and the utilization of reclaimed water from
the cities of Midland and Odessa.
- Continued focus on diversity, equity, and inclusion
(DEI) – Pioneer is committed to diversity at all levels,
including positions of leadership, with 42% of Pioneer’s Board
members and 44% of the Company’s Executive Committee identifying as
women or from historically underrepresented groups. Additionally,
Pioneer participated in the DiversityInc Survey to benchmark the
Company’s DEI initiatives and goals. As a testament to the
Company’s focused commitment and results, Pioneer earned a spot on
the 2022 DiversityInc Top Regional Companies list.
- Committed to local communities – Pioneer continues to
maintain a leadership role in the Permian Strategic Partnership
(PSP), an organization that has participated, along with other
stakeholders, in funding over $950 million of collaborative
investments in the Permian Basin. Pioneer and its employees donated
nearly $30 million to numerous local charitable organizations in
addition to humanitarian efforts in Ukraine during 2022.
Chief Executive Officer, Scott D. Sheffield, stated, "Pioneer
remains steadfast in our commitment to sustainable and socially
responsible operations. Our 2023 Sustainability Report highlights
our enhanced targets and continued progress on environmental
initiatives, as well as Pioneer’s support for our diverse and
highly-skilled workforce and the communities in which they work and
live."
Chairman of the Board, J. Kenneth Thompson, stated, "We are
proud of Pioneer’s progress on its ESG initiatives that are
highlighted in the 2023 Sustainability Report. Pioneer’s
industry-leading responsible practices are a top priority and a key
area of oversight for the Board as the Company continues to deliver
low-emissions intensity and low-cost energy to the world."
Additional information on Pioneer’s strategy and performance on
ESG and Health, Safety and Environmental initiatives can be found
in the 2023 Sustainability Report, which is accessible on the
Company’s website listed below. This year’s report references the
following reporting standards, terminology and performance metrics:
Task Force on Climate-related Financial Disclosure (TCFD), Global
Reporting Initiative (GRI), International Petroleum Industry
Environmental Conservation Association (IPIECA), Sustainability
Accounting Standards Board (SASB) for oil and gas exploration and
production standards, the United Nations Sustainable Development
Goals (SDGs) and American Exploration & Production Council
(AXPC).
ERM Certification and Verification Services Inc. (ERM CVS) has
provided limited assurance of Pioneer’s 2022 emissions (Scope 1 and
Scope 2) and flaring data. Additional information on the scope of
this assurance can be found in the 2023 Sustainability Report.
Pioneer is a large independent oil and gas exploration and
production company, headquartered in Dallas, Texas, with operations
in the United States. For more information, visit Pioneer’s website
at www.pxd.com.
Cautionary Statement Regarding Forward-Looking
Information
Except for historical information contained herein, the
statements in this news release are forward-looking statements that
are made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements and the business prospects of the Company are subject to
a number of risks and uncertainties that may cause the Company's
actual results in future periods to differ materially from the
forward-looking statements. These risks and uncertainties include,
among other things, volatility of commodity prices; product supply
and demand; the impact of armed conflict (including the war in
Ukraine) and political instability on economic activity and oil and
gas supply and demand; competition; the ability to obtain drilling,
environmental and other permits and the timing thereof; the effect
of future regulatory or legislative actions on Pioneer or the
industry in which it operates, including potential changes to tax
laws; the ability to obtain approvals from third parties and
negotiate agreements with third parties on mutually acceptable
terms; potential liability resulting from pending or future
litigation; the costs, including the potential impact of cost
increases due to inflation and supply chain disruptions, and
results of development and operating activities; the impact of a
widespread outbreak of an illness, such as the COVID-19 pandemic,
on global and U.S. economic activity and oil and gas demand, and
global and U.S. supply chains; the risk of new restrictions with
respect to development activities, including potential changes to
regulations resulting in limitations on the Company's ability to
dispose of produced water; availability of equipment, services,
resources and personnel required to perform the Company's
development and operating activities; access to and availability of
transportation, processing, fractionation, refining, storage and
export facilities; Pioneer's ability to replace reserves, implement
its business plans or complete its development activities as
scheduled; the Company's ability to achieve its emissions
reductions, flaring and other ESG goals; access to and cost of
capital; the financial strength of (i) counterparties to Pioneer's
credit facility and derivative contracts, (ii) issuers of Pioneer's
investment securities and (iii) purchasers of Pioneer's oil, NGL
and gas production and downstream sales of purchased commodities;
uncertainties about estimates of reserves, identification of
drilling locations and the ability to add proved reserves in the
future; the assumptions underlying forecasts, including forecasts
of production, operating cash flow, well costs, capital
expenditures, rates of return, expenses, and cash flow from
downstream purchases and sales of oil and gas, net of firm
transportation commitments; tax rates; quality of technical data;
environmental and weather risks, including the possible impacts of
climate change on the Company's operations and demand for its
products; cybersecurity risks; the risks associated with the
ownership and operation of the Company's water services business
and acts of war or terrorism. These and other risks are described
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2022 and other filings with the United States
Securities and Exchange Commission. In addition, the Company may be
subject to currently unforeseen risks that may have a materially
adverse effect on it. Accordingly, no assurances can be given that
the actual events and results will not be materially different than
the anticipated results described in the forward-looking
statements. The Company undertakes no duty to publicly update these
statements except as required by law.
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Pioneer Natural Resources Company Contacts:
Investors Greg Wright – 972-969-1770 Chris Leypoldt –
972-969-5834 Media and Public Affairs Christina Voss -
972-969-5706
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