Colorado Driller Urges Industry to Consider Long-Term Benefits of ESG

May 1, 2023--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Civitas Resources Incorporated (NYSE:CIVI) (Denver, Colorado), a two-year-old oil & gas producer formed by the roll-up of five different companies in 2021-2022, has a message for its peers: environmental, social and governance (ESG) measures are not only the future, they are good business--and they are not that expensive. A Civitas executive told attendees at an oil and gas conference that they could either get on board, or risk expiring before their time.

"Tell my Texas friends: I am from the future," said Brian Cain, chief sustainability officer for Civitas, about ESG issues. "Regulations go one way: they get harder. They don't get easier."

Cain's April 19 remarks came at an oil and gas ESG conference sponsored by EnerCom Incorporated (Denver, Colorado).