EagleClaw Midstream is going 100% renewable energy.
The Houston-based private midstream operator shared in a June 16 release it had executed an agreement to source 100% of the electricity used in operations from renewable energy sources beginning in April. As a result, the company will become the first major gathering and processing company in the Permian Basin to procure 100% of its power for operations from renewable energy sources, according to the release.
The announcement was made alongside the release of its first ESG report and new net-zero emissions targets, which EagleClaw says will position it as “an industry leader in sustainability and the ongoing energy evolution.”
EagleClaw’s methane intensity rate for 2020 of 0.057% is already roughly 40% below the 2025 target of 0.08% by the ONE Future coalition, of which EagleClaw is a member. However, the company aims to go fully carbon neutral with the goal of reaching net-zero greenhouse gas (GHG) emissions by no later than 2050.
To achieve its carbon neutrality and methane intensity goals, the company intends to amongst others:
- Migrate a significant portion of its company vehicle fleet to electric vehicles over the next several years;
- Invest further in emissions monitoring, control and reduction equipment;
- Expand use of electric compression across its system where feasible; and
- Explore potential application for a grant from the Department of Energy to evaluate carbon capture technologies to utilize and eventually deploy to achieve net-zero carbon emissions.
Additionally, EagleClaw said June 16 it recently formed a Carbon Reduction Task Force to identify solutions to further reduce the company’s carbon footprint toward its long-term net-zero goal. In the release, CEO Jamie Welch said the team includes experts in tax, safety and environmental compliance, finance, commercial, accounting, legal, operations, engineering and sustainability, “thus bringing a multi-disciplinary approach to this complex challenge.”
EagleClaw also will implement in 2022 a new performance bonus structure for all its employees, tying 20% of bonuses to the achievement of ESG goals.
“I am excited to undertake this ESG journey with each and every employee at EagleClaw Midstream,” Welch added in the release. “Through our collective efforts, we will achieve our goals and ultimately, our commitment to the environment, safety and well-being of our employees and our commitment to our communities.”
The company’s ESG report aligns with reporting frameworks established by the Sustainable Accounting Standards Board (SASB), Global Reporting Initiative (GRI) and the Energy Infrastructure Council/Gas Processing Association’s recently released reporting framework, according to the release.
EagleClaw Midstream is headquartered in Midland, Texas, with a significant presence in Houston. The company, backed by Blackstone Energy Partners and I Squared Capital, is the largest private gas processor in the Delaware Basin and also a partner on the Permian Highway Pipeline project.
Recommended Reading
Texas Earthquake Could Further Restrict Oil Companies' Saltwater Disposal Options
2024-04-12 - The quake was the largest yet in the Stanton Seismic Response Area in the Permian Basin, where regulators were already monitoring seismic activity linked to disposal of saltwater, a natural byproduct of oil and gas production.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Diamondback May Go Nuclear to Power Permian Basin Ops
2024-04-08 - Oklo Inc., a California fission power plant developer, on April 8 said it signed a letter of intent to collaborate with Diamondback Energy on implementation of nuclear energy for drilling operations in the Permian Basin.
Technip Energies Wins Marsa LNG Contract
2024-04-22 - Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.
Deepwater Roundup 2024: Offshore Australasia, Surrounding Areas
2024-04-09 - Projects in Australia and Asia are progressing in part two of Hart Energy's 2024 Deepwater Roundup. Deepwater projects in Vietnam and Australia look to yield high reserves, while a project offshore Malaysia looks to will be developed by an solar panel powered FPSO.