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…
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Devon Paring Flared Gas, Freshwater Use in Permian Completions to Reach Net-Zero Carbon Goals
Oklahoma City-based Devon Energy Corp. on Monday joined many of its Lower 48 oil and gas peers in establishing environmental performance targets to reduce the carbon intensity of its operations and cut overall emissions from its supply chain. By 2030 the onshore producer plans to reduce methane emissions intensity by 65%. Flaring intensity is set…
Sempra, DOE Looking to Partner on Low Carbon Solutions
The Department of Energy’s National Renewable Energy Laboratory (NREL) has signed a memorandum of understanding (MOU) with San Diego-based Sempra Energy to work on decarbonization strategies. In the MOU, Sempra and NREL agreed to focus on advancing artificial intelligence to scale solutions across the United States. They also plan to integrate low-carbon fuel solutions, including…
Feds Looking to Expand Wind Energy Offshore East, West Coasts and GOM
The Department of Interior may have paused federal oil and natural gas leasing, but it is looking to deploy 30 GW of offshore wind capacity on nearly every U.S. coast by 2030. A competitive lease sale to kick things off is planned in the New York Bight, with other auctions eventually expected offshore the West…
Battelle, Catahoula Partner to Combat Ethanol-Based CO2 Emissions
Battelle Memorial Institute and Catahoula Resources LLC have agreed to partner to manage carbon dioxide (CO2) emissions produced from ethanol facilities in Nebraska. Houston-based Catahoula, and Allentown, PA-based Battelle plan to investigate solutions for the capture, transport, and sequestration of CO2 emissions from ethanol.The two plan to design and construct several low-cost storage options either…
CME to Launch ‘Nature-Based’ Emissions Offset Futures Contract
CME Group said Monday it would launch an emissions offset futures contract sourced from agriculture, forestry and other land use projects in an ongoing effort aimed at helping the market better manage climate risk as the energy transition accelerates. CME said the Nature-Based Global Emissions Offset (N-GEO) contract would launch August 1, pending regulatory review.…
Six U.S. Research Teams Tapped to Advance DAC Prospects to Capture, Store GHG
Six U.S. projects designed to advance direct air capture (DAC) technology to snatch carbon emissions from the atmosphere are the focus of a new federal funding effort. The Department of Energy (DOE) is deploying $12 million for research and development (R&D) underway to remove carbon dioxide (CO2) emissions from the air. Funding is being directed…
California Using Energy Reliability Options to Cut Wildfire Risks to Power Grid
The size of California’s wildfires doubled year/year in 2020, so state officials are throwing technology enhancements at the seasonal challenge through the utilities, grid operators and energy planners. “One of the biggest lessons we have learned is how unpredictable fire dangers and climate both are, and we’re still grappling somewhat with how to prepare for…
Permian Midstreamer EagleClaw Shooting for Net-Zero Emissions by 2050
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…
Pembina, TC Energy Launch Alberta Carbon Grid to Capture, Store Pipeline Emissions
Canada oil and gas infrastructure giants Pembina Pipeline Corp. and TC Energy Corp. on Thursday agreed to partner in the Alberta Carbon Grid (ACG) to create a commercial pathway to reduce and store greenhouse gases. The Calgary-based pipeline companies proposed building a northern pipeline network and storage hub capable of collecting and disposing of up…