Board Governance

Our Board of Directors is the foundation of our governance structure. The Board and its committees provide strategic oversight of our global activities. A full description is provided in the proxy statement for our 2016 annual meeting of stockholders. Ten of our eleven directors are independent as defined by the New York Stock Exchange and U.S. Securities and Exchange Commission. Our Board’s Environment, Health and Safety Committee assists the Board in determining whether appropriate EHS policies and management systems are in place and serves as a forum for the review of our strategy and initiatives in the area of corporate social responsibility.

Our Board also plays an active role in assessing the impacts of our exploration and development operations by approving our entry into any new country. Our pre-entry analysis includes technical feasibility, commercial attractiveness, and above-ground risk, which includes the impact of our operations on the environment and any local communities.

Areas of governance addressed by our board committees in 2015 included proxy access and shareholder engagement.