ESG

A growing number of Lower 48 onshore producers are measuring and disclosing their performance on environmental, social and governance (ESG) efforts, according to new research by Haynes and Boone LLP and EnerCom Inc. The August edition of their Oil & Gas ESG Tracker summarized findings from a review of 30 U.S.-listed middle market onshore oil…

Five natural gas utilities have committed $45 million to an Energy Capital Venture (ECV) fund to bolster digital advancements along with environmental, social and governance (ESG) strategies within the natural gas industry.  Chicago-based ECV was founded in 2020 to focus on local distribution companies and natural gas utilities with an eye on creating a more…

Ovintiv Inc., whose portfolio stretches from Western Canada to West Texas, is seeing costs for materials and labor rising, but inflationary pressures and capital guidance are being kept in check with operational efficiencies, executives said Wednesday. CEO Doug Suttles, who is retiring, presided over his final conference call on Wednesday, ushering in a new era…

Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter.  Oil production rose to 1.736 million b/d in the second quarter compared with 1.673 million b/d in the…

Appalachian pure-play CNX Resources Corp. said Wednesday that it’s net carbon negative for Scope 1 and 2 emissions, stressing a “tangible” accomplishment at a time when its peers are advancing ambitious goals to cut environmental footprints in the future.  Announced along with the release of its corporate responsibility report, the company said it believes it’s…

After backing an economy-wide price on carbon emissions, the American Petroleum Institute (API) on Thursday released a new template for oil and gas companies to standardize greenhouse gas (GHG) emissions reporting. API, the largest U.S. oil and gas trade association, is asking energy companies to track emissions and voluntarily disclose to the public details, including…

Range Resources Corp. has launched a pilot program with monitoring company Project Canary to certify that its natural gas is produced in an environmentally responsible way.  Project Canary would monitor methane emissions at two well pads in southwestern Pennsylvania. Production at the locations would also be certified under Project Canary’s TrustWell certification process.   Range produced…

Exploration and production (E&P) companies working in the Lower 48 have witnessed an evolution in how their executive teams are compensated, with returns and free cash flow (FCF) now trumping volumes and growth, according to an analysis by Raymond James & Associates Inc. Nearly all, or 90% of the E&Ps covered by the analyst firm…

Houston-based EagleClaw Midstream LLC has joined its midstream peers in announcing plans to reach net-zero emissions by no later than 2050. “We are grateful to have incredibly talented and committed employees, suppliers and customers who all share our vision of working together to collectively stem the impacts of climate change for future generations,” CEO Jamie…