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Ƶ Oil logo
Ƶ Oil logo

Environment

Overview

Performance Highlights

↓47%
Surpassed 2022 40% GHG emissions intensity reduction target relative to 2019 baseline
99.3%
Met 2022 company gas capture percentage target¹
↓9%
Reduction in 2022 methane emissions intensity relative to 2019 baseline
Zero
World Bank Zero Routine Flaring commitment by 2030
Minimizing our Environmental Impact
Safe, environmentally responsible operations are central to our company values and a key part of our commitment to stakeholders.

Managing Environmental Risk

Our sustainability efforts play a pivotal role in how we define and execute our risk management processes. The executive vice president of Ƶ has leadership accountability for our environmental functions, including emissions, biodiversity, water conservation and sourcing, spill prevention, seismicity and waste management. The of our board of directors provides oversight and meets at least twice per year and all regular operations updates to our board include relevant HES metrics. In addition, every director brings experience with industry regulations to their board role.

Our business units follow our Environmental Management Standard to identify relevant environmental risks. Our local and regional management practices help to reduce our environmental impacts. These include:

  • Designing and constructing facilities to comply with existing, applicable regulations.
  • Identifying and installing solutions to reduce air emissions, waste and fresh water use and mitigate spill potential.
  • Assessing waste disposal facilities prior to use to minimize potential situations such as induced seismicity or waste mismanagement.
  • Tracking and reporting on environmental performance, data and management practices.

Environmental Expectations

Ƶ Oil’s provide a framework for understanding and managing our operations’ environmental risks and performance. The ECEs codify and communicate our fundamental and nonnegotiable commitment to environmental compliance with local, regional and national environmental laws and regulations. Understanding our ECEs is essential to meeting our environmental performance goals, managing safety and regulatory risks.

¹ Gas capture percentage: the percentage of volume of wellhead natural gas captured upstream of low pressure separation and/or storage equipment such as vapor recovery towers and tanks.

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