Centennial promotes a safe working environment for both our employees and contractors. Our environmental, health and safety (“EH&S”) professionals play an integral role in providing expertise, training and support to our operations. Every Centennial employee and certain contractors are required to take numerous safety and environmental training programs in order to ensure a safe operating environment, to recognize unsafe working conditions, and to respond appropriately in emergency situations.
Our senior leadership team considers EH&S a core value at Centennial. Safety and environmental performance, including trends and comparisons within the industry, is reviewed by Centennial’s senior management team regularly throughout the year and with the Board of Directors at least annually. Such performance is also considered in making compensation decisions for our senior leadership team.
Total Recordable Incident Rate (“TRIR”) represents the number of recordable incidents per 200,000 man hours and is considered the industry standard for safety and environmental benchmarking. As a result of its continual training and employee awareness, Centennial has been able to maintain a highly competitive TRIR despite a significant year-over-year increase in drilling, completion and production activity. During 2017 and 2018, Centennial’s TRIR (including both CDEV personnel and contractors) was 0.47 and 0.44, respectively. This compares to the “Oil and Gas Extraction” subsector average of 1.00 in 2017, according to the U.S. Bureau of Labor Statistics (latest data available). None of Centennial’s TRIR involved fatalities.
Source: Company data and U.S. Bureau of Labor Statistics