About Our Reporting
DATA AND APPROACH
About Our Reporting
Noble Energy’s eighth annual Sustainability Report describes the company’s management objectives, approach and performance in environmental, social and governance (ESG) dimensions during calendar year 2018. We strive each year to become more transparent and to improve the rigor and materiality of our sustainability reporting and other public disclosures.
The primary framework for this report is the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting (3rd Edition, 2015) developed by IPIECA, American Petroleum Institute (API), and International Association of Oil & Gas Producers (IOGP). Where we indicate the level of disclosure for a given indicator, we are referring to our response to the common reporting elements within the IPIECA Guidance. We also used the Global Reporting Initiative’s (GRI) Sustainability Reporting Standards and the GRI G4 Oil and Gas Sector Disclosures (G4, 2013) to inform the development of this report. Our combined IPIECA/ API/IOGP, GRI and GRI OGSD Index identifies the management disclosures and performance indicators we report on for 2018, and where the data may be found in this report or in additional documents.
We are currently evaluating other emerging standards, frameworks and guidelines, including the 17 Sustainable Development Goals developed by the United Nations and the standards of the Sustainability Accounting Standards Board. We are also monitoring best practices for climate-related reporting through the Task Force for Climate-related Financial Disclosures. Based on our assessment, we will determine whether and to what degree we will adopt them in the future.
Unless otherwise noted, this report covers activities under our direct operational control during calendar year 2018, which coincides with the company’s fiscal year. All financial data are reported in U.S. dollars and represent the company’s share of operated as well as non-operated oil and natural gas exploration and production activities.
In September 2016, Noble Energy formed Noble Midstream Partners (NASDAQ: NBLX) to own, operate and develop midstream infrastructure in the DJ and Permian Basins. In this report, we have noted where NBLX operations are represented.
Divestitures, Restatements and Additions
As part of our ongoing portfolio management, we divested certain assets through asset or equity sales, exchanges, dissolutions of joint ventures and other transactions throughout the year.
In April 2018, we divested our U.S. Gulf of Mexico assets with an effective transaction date of January 1, 2018. Also in 2018, we divested our interest in CONE Gathering LLC and the sale of a 7.5 percent interest in the Tamar field.
In April 2017, we acquired Clayton Williams Energy, adding 71,000 net acres adjacent to our existing position in the core Southern Delaware Basin in West Texas.
Also in 2017, we divested our Marcellus upstream and midstream assets in northern West Virginia and southern Pennsylvania. Marcellus data are noted where included.
Data for these assets are included in our 2018 report.
Information in this report has been subject to internal review and we believe it to be correct at the time of reporting. We did not have a third-party assess the report.
Forward-Looking Statements and Other Matters
This report contains forward-looking statements that reflect Noble Energy’s views about future events as of the date of this report. These statements by their nature are subject to risks, uncertainties and assumptions and are influenced by various factors. As a consequence, actual results may differ materially from those expressed in the forward-looking statements. We do not assume any obligation to update forward-looking statements should circumstances, management’s estimates or opinions change.
Corporate Responsibility Materiality Assessment
Noble Energy conducted a materiality assessment to identify and prioritize our most significant sustainability topics. We build our sustainability program based upon engagement with key internal and external stakeholders including:
- Communities where we operate
- Industry thought leaders
- Voluntary frameworks and certifications
- Non-governmental Organizations
We assess external stakeholder feedback and learn from industry research and benchmarking to test our business practices and develop recommendations. Our assessment and reporting practices align with the Global Reporting Initiative guidelines. Our material environmental, social and governance topics include:
- Climate Change
- Environmental Management and Compliance
- Spill Prevention
- Water Management
- Air Emissions
- Biodiversity and Ecosystem Services
- Personnel Safety
- Process Safety
- Employee Attraction and Retention
- Community Relations
- Human Rights
Economic and Governance
- Corporate Governance
- Business Ethics