Gulfport Energy Corporation (NYSE: GPOR) has released its 2023-2024 Corporate Sustainability Report, highlighting the company’s environmental, social, and governance (ESG) performance, as well as its continued efforts to reduce emissions across its operations.
John Reinhart, President and CEO, stated, “As a leading natural gas producer, Gulfport is dedicated to reducing emissions while providing clean, affordable, and reliable energy. We are proud of the progress we’ve made, but we also recognize the responsibility we have to our stakeholders, employees, and the communities where we operate. Our approach to safe and environmentally responsible asset development, coupled with our disciplined execution and philanthropic initiatives, will ensure we deliver long-term value to all stakeholders while supporting global energy needs.”
Corporate Sustainability Report Highlights
Environmental Stewardship
- Achieved an “A” rating for Appalachia assets from MiQ for the second consecutive year
- Reduced Scope 1 methane intensity by approximately 36% in 2023 compared to 2021
- Completed the company’s first climate risk assessment, integrating climate-related risks into the Enterprise Risk Management program
- Reused or recycled around 75% of water from production and flowback operations
- Progressed in a multi-year initiative to replace natural gas process controllers with compressed air or non-gas venting devices to reduce methane emissions
Social Responsibility
- Increased workplace diversity with 43% of employees identifying as gender or ethnically diverse
- Reduced the combined total recordable incident rate by approximately 53% in 2023 compared to 2021
- Partnered with organizations focused on education, health and human services, environmental stewardship, and support for military veterans
- Paid over $360 million in royalties to local landowners and working interest owners
- Contributed over $34 million in production and other taxes to local economies
Corporate Governance
- Managed by a seven-member Board, including five independent directors
- Active Audit, Compensation, and NESG Committees ensure robust governance
- Appointed two gender-diverse directors, achieving 60% diversity among independent directors
- Separated the CEO and Chair roles, retaining a Lead Independent Director
- Increased short-term compensation incentives with ESG metrics weighted at 30%
