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Chevron Corp.'s North American upstream assets in Texas and Colorado earned Project Canary's highest ratings in operational and environmental performance, a joint press release announced on June 29.
82 of Chevron's wells achieved "Platinum" status (to be more environmentally responsible than 90% of operators) and three wells achieved "Gold" status (to be more environmentally responsible than 75% of operators), highlighting the company's continuous monitoring practices.
"Chevron deploys several technologies to detect and measure methane emissions and certified responsibly sourced gas is part of our broader commitment to lowering the carbon emissions intensity of our operations,” Chevron North America exploration and production president Steve Green said in the release. “In addition to demonstrating transparency, an independent assessment provides validation of our current practices and insights to inform and shape how we continue to achieve our lower carbon aspirations.”
In February 2022, Chevron announced a pilot project to implement Project Canary's TrustWell Certification program to review and analyze aspects of the environmental and social performance of individual wells and facilities in two sites in the Permian Basin and three sites in the Denver-Julesburg (DJ) Basin, according to a Chevron press release from Feb. 23.
Combined, the five sites produce approximately 80 MMcf/d of natural gas. In addition to the certification program, the company also deployed Canary X continuous pad-level methane emissions monitoring units in some of its locations.
Chevron intends to use this momentum to market responsibly sourced gas (RSG) from the Project Canary-certified assets in the second half of this year.
“The results of our independent assessment and certification of Chevron’s operations in the Permian and DJ basins demonstrate strong performance across its operating assets, positioning Chevron in the fast-emerging markets for differentiated gas,” Project Canary co-founder and CEO Chris Romer added. “Buyers of RSG certified by Project Canary can have confidence that each producing well has been reviewed and verified for aspects of Chevron’s environmental and social performance.”
2023-12-18 - As Occidental spends $12 billion to add scale in the Midland Basin, analysts wonder if the E&P will divest assets in the Gulf of Mexico, the Rockies or other parts of its portfolio.
2024-02-21 - Occidental CEO Vicki Hollub said plans to divest non-core Permian assets would come after closing the pending acquisition of CrownRock — but reports have since emerged that the company is considering selling its share of Western Midstream Partners, valued at about $20 billion, according to Reuters.
2023-12-11 - Occidental Petroleum said the purchase of CrownRock includes 1,700 undeveloped locations, 750 of which break even at prices of less than $40/bbl of WTI.
2023-12-18 - A land grab for top-quality drilling locations fueled record Permian Basin M&A activity in 2023. To preserve inventory, E&Ps are radically slashing drilling activity on their new assets, East Daley Analytics reports.
2024-02-12 - The tie-up between Diamondback Energy and Endeavor Energy—two of the Permian’s top oil producers—is expected to create a new “super-independent” E&P with a market value north of $50 billion.