Kinetik Publishes 2022 Sustainability Report

Rhea-AI Summary

Kinetik Holdings Inc. has published its 2022 Sustainability Report, highlighting its progress in advancing a safer, cleaner, and more reliable energy future. The report outlines the company's sustainability initiatives and achievements, including reductions in greenhouse gas and methane emissions, enhanced safety programs, and the implementation of carbon accounting and emissions forecasting software.

Positive

• Kinetik made tangible steps to enhance sustainability efforts, including the appointment of a Vice President of Sustainability and the creation of a new management-level sustainability committee.
• The company achieved meaningful reductions in combined Scope 1 and Scope 2 GHG and methane emissions through operational improvements.
• Kinetik implemented the Aurion software for carbon accounting and emissions forecasting, providing greater visibility to achieving longer-term sustainability goals.
• Enhanced safety programs were implemented, including the Kinetik Employee Engagement Program and employee training initiatives.

Negative

• None.

HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)-- Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today published its 2022 Sustainability Report (the “Report”), highlighting its sustainability advancements during the 2022 calendar year. The Report provides a comprehensive review of Kinetik’s progress towards advancing a safer, cleaner, and more reliable energy future and its commitment to integrating sustainability across its operations.

"I am proud of the achievements we made throughout 2022 advancing our environmental and other sustainability initiatives,” said Jamie Welch, President and CEO. “We took several tangible steps to enhance our efforts across our organization, including the appointment of a Vice President of Sustainability, creation of a new management-level sustainability committee, and further incorporation of sustainability-focused risks and opportunities into our corporate decision-making processes. We made meaningful progress over the past year and will continue to strive for further improvement.”

Matt Wall, COO, added, “The implementation of our sustainability initiatives continues to enhance our operational performance and environmental and safety programs. We achieved meaningful combined Scope 1 and Scope 2 GHG and methane emissions reductions through operational improvements including the electrification of compression and sourcing of renewable energy, and we now have greater visibility to achieving our longer-term goals with the implementation of Aurion software for carbon accounting and emissions forecasting. Last year, we enhanced Kinetik’s safety program including the implementation of the Kinetik Employee Engagement Program (“KEEP”), completion of nearly 7,000 hours of EHS-focused employee training, and the creation of the Kinetik Employee Safety Committee. These initiatives reinforce our commitment to safeguarding our employees, communities, and the environment.”

The 2022 Sustainability Report is now available and can be accessed directly at the link below and on Kinetik’s website.

2022 Sustainability Report

Kinetik’s 2022 Sustainability Report was prepared in reference to the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) and the Energy Infrastructure Council (EIC) / GPA Midstream Association Reporting Framework.

About Kinetik Holdings Inc.

Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Houston and Midland, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for 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.

Forward-Looking Statements

This news release may include certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. 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 Kinetik’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K and other reports. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made, and Kinetik assumes no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230731486185/en/

Kinetik Investors:



Maddie Wagner

(713) 487-4832



Alex Durkee

(713) 574-4743



Website: www.kinetik.com

Source: Kinetik Holdings Inc.

FAQ

What is Kinetik Holdings Inc.'s 2022 Sustainability Report about?

The report highlights the company's progress in advancing a safer, cleaner, and more reliable energy future through sustainability initiatives.

What steps did Kinetik take to enhance sustainability efforts?

Kinetik appointed a Vice President of Sustainability, created a new management-level sustainability committee, and incorporated sustainability-focused risks and opportunities into corporate decision-making processes.

What achievements did Kinetik make in reducing emissions?

The company achieved meaningful reductions in combined Scope 1 and Scope 2 GHG and methane emissions through operational improvements.

What software did Kinetik implement for carbon accounting and emissions forecasting?

Kinetik implemented the Aurion software.

What safety programs were implemented by Kinetik?

Kinetik implemented the Kinetik Employee Engagement Program, conducted employee training, and created the Kinetik Employee Safety Committee.