Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Advancing a safe, ethical, inclusive and diverse culture creates an environment that attracts and retains the high-performing workforce needed to successfully execute our strategy. To build a better tomorrow for everyone, we continue to foster a culture that embraces inclusion and diversity and encourages collaboration.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Geographic concentration of operations in Pennsylvania (91% of 2022 production), exposing the company to regional supply and demand factors, production interruptions due to government regulation, processing/transportation constraints, market limitations, weather events, or disruptions in processing/transporting crude oil or natural gas.
• Potential impacts of climate change on operations and the possibility of future laws, regulations, or treaties limiting GHG emissions, which could affect demand for oil and natural gas and reduce demand for gas gathering services.
• Intense competition for drilling and completion rigs, equipment, and personnel, leading to delays and cost increases.
• Potential for inaccurate reserve estimates and uncertainty in future net cash flows and reserve replacement.
• Dependence on third-party operators for the timing of activities on non-operated properties, limiting control over operations and risks.
• Leasehold interests subject to termination or expiration if specific requirements are not met.
• Exposure to third-party credit risk from joint venture partners, marketers, derivative counterparties, and other parties.
• Potential for uninsured liabilities exceeding policy limits.
• Fluctuations in natural gas and oil prices, impacting revenues, profitability, and access to capital.
• Risks associated with hedging transactions, including potential gains limitations and losses from counterparty nonperformance.
• Market conditions or operational impediments hindering access to natural gas and oil markets or delaying production.
• Investor sentiment towards climate change, fossil fuels, and sustainability potentially affecting business and share price.
• Complex laws and regulations, including environmental regulations, impacting the cost, manner, and feasibility of doing business.
• Environmental and health and safety risks.
• Natural decline in production from existing wells, impacting the success of the Anchor Shippers in developing remaining Marcellus Shale reserves.
• Gathering rate on the Auburn GGS subject to a cost-of-service model, potentially resulting in a non-competitive gathering rate and reduced throughput.
• Significant price differentials for natural gas in Northeast Pennsylvania compared to Henry Hub pricing.
• Competition with other operators in the gas gathering energy businesses.
• Aging infrastructure requiring significant expenditures for maintenance and repair.
• Exposure to credit risk of customers and counterparties.
• Volatility and discounts in natural gas prices in Northeast Pennsylvania.
• Dependence on continued availability of natural gas supplies and demand in served markets.
• Operational hazards and unforeseen interruptions, including natural disasters, aging infrastructure, pipeline damages, uncontrolled releases, operator error, third-party damage, pollution, fires, explosions, and terrorist attacks.

Mitigation Strategies

• Disciplined capital allocation, including shareholder returns through dividends and/or share buybacks.
• Maintaining a strong balance sheet and liquidity for opportunistic investments.
• Hedging arrangements to reduce the impact of natural gas price volatility on operations.
• Regular review of budgets in light of past results and future opportunities.
• Credit procedures and policies to mitigate customer and counterparty credit risk.
• Insurance against some operational risks.
• Monitoring the financial condition of key customers and counterparties.
• Ongoing assessment of the impact of the Inflation Reduction Act.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• More frequent and powerful storms, droughts, and floods

Transition Risks

• Regulatory changes, market shifts, limitations on funding for energy sector

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SEC

Certifications: Null

Third-party Assurance: BDO USA, LLP

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed