Securing Digital Assets, Strengthening Safety
Oil and natural gas companies use sophisticated technology to power many of the functions central to the industry. While advanced technology provides immeasurable value to our operations, it also can create risk. Specifically, as our business has become more dependent on digital technologies, those same digital capabilities generate opportunities for cyberattacks, exploiting internal or third-party vulnerabilities.
To counteract these threats, we have developed a comprehensive defense approach to protecting the company. Recognizing that no single defense technology will be effective in mitigating all cyber risk, our Cybersecurity team utilizes an extensive framework with controls that detect, identify, and protect against or mitigate potential cyberattacks. The Cybersecurity team also develops response and recovery plans that would be implemented should an incident occur. This program closely aligns with the National Institute of Standards and Technology (NIST) Cybersecurity Framework to best protect the data and programs critical to our business.
Beyond viewing cybersecurity as an enterprise risk, we consider it to be a safety concern for our employees and stakeholders. We have a culture of safety at Chesapeake, and we extend our safety focus to the digital realm. Through targeted communications, trainings and cyber exercises, we work to raise cybersecurity awareness among our employees and partners, reminding them of the critical role they play in protecting our digital assets.
While employees are often at the front lines of our defense, cybersecurity accountability reaches to the very top of our organization. Our Cybersecurity team provides regular updates to Chesapeake's senior leadership and the Audit Committee about cyber threats, potential vulnerabilities and the proactive security programs in place to protect our operations.
Even with comprehensive protection measures in place, we must continue to strengthen our digital defenses. Information technology is a rapidly evolving field with constantly changing threats — a reality that pushes us every day to prevent, protect and be proactive for the security of our assets and the welfare of our employees.