W&T Offshore announced that the company has issued 20221 corporate ESG (Environmental. Social and Governance) report. Moreover, the report provides detailed information about the company’s ESG initiatives.
Tracy W. Krohn, Chairman and CEO, commented, “Our 2021 ESG report details our commitment to a high quality, comprehensive ESG effort. The Company made positive strides across all three ESG elements, including another year of declining Scope 1 greenhouse gas emissions. Environmental stewardship, sound corporate governance, and contributing positively to our employees and the communities where we work and operate are cornerstones of our culture. We invite you to review this report to learn more about our ESG program and our plans for improvement in the future.”
About the report
The W&T ESG report provides punctual information about the company’s ESG initiatives; also as related key performance indicators from 2019-2021. The goal is to persue risk-adjusted, high rate of return projects and develop oil and natural gas resources.
Moreover, in the report the company states their intention to execute the following elements of its business strategy in order to achieve their strategic goals. First, is to exploit existing and acquired properties to enhance reserves and production.
Second, to explore for reserves on its extensive acreage holdings and in other areas of the Gulf of Mexico. Third, to acquire reserves with substantial upside potential and additional leasehold acreage; complementary to their existing acreage position at attractive prices. Finally, to continue to manage our balance sheet in a prudent manner and build on our track record of maintaining financial flexibility in any commodity price environment.
In the Environmental point the company addresses issues like health and safety for everyone who plays part in the operations. This also includes their commitment to reducing greenhouse emissions and footprint.
Likewise, in the Social point the company explains their commitment to creating and maintaining a safe, healthy, and injury-free workplace for employees and contractors. Finally, in the Governance point W&T shares how it promotes accountability and good decision making with governance practices.
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W&T Offshore, Inc. is an independent oil and natural gas producer. It has operations offshore in the Gulf of Mexico, where all of the company’s production comes from. Moreover, W&T Offshore is active in the exploration, development and acquisition of oil and natural gas properties. The company’s products play a critical role in the transportation of people, goods and services as well as key inputs for many everyday necessities.